Board sets Rs 14 rights issue ratio at 8 for every 13 shares

Rights Steep DiscountCorporate Actions View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.6%Reaction day

₹21.84

prior close

₹22.33

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.3%+2.8% vs market

Other Bank peers, median of 8sector-1.0%+3.6% vs sector

On the reaction day the stock moved 2.8 pts more than Nifty Microcap 250 and 3.6 pts more than its Other Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.3

10m

-0.2

15m

-2.0

30m

-0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.6-0.3+2.8-1.0+3.6

Next day

+1.5-0.1+1.5-0.8+2.3

+1.3+0.6+0.7-1.2+2.4

+6.3+0.1+6.2-0.5+6.8

-14.6-1.1-13.5-2.2-12.4

-18.7-0.1-18.6-2.0-16.7

-18.0-0.1-18.0-2.1-16.0

15d

-7.9+2.1-10.0+2.3-10.2

-22.4+0.3-22.7-3.3-19.1

-33.4-6.3-27.2-4.9-28.5

-32.7-4.7-28.0-2.2-30.5

UpDownMarket · Nifty Microcap 250Sector · Other Bank peers, median of 8Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The board approved 67,79,13,784 fully paid shares of Rs 10 face value at Rs 14 each, including a Rs 4 premium, for up to Rs 949.08 crore if fully subscribed. The rights ratio is 8 new shares for every 13 held. Eligible holders pay Rs 112 per 13 shares to maintain their stake. On-market renunciation closes October 28 and off-market renunciation October 31.

Likely market impact

The raise can support growth, but the steeply discounted rights issue may pressure the stock. Shareholders who do not subscribe may have their stakes diluted.