Rights Issue

Dividend, rights issue: Tips Music, 2 other stocks to remain in focus today

Here is the complete list of companies whose shares will turn ex-date on Thursday, along with their respective corporate announcements and other key details

After board meeting, Indian Oil withdraws Rs 22,000 crore rights issue

The decision came after a communication from the Ministry of Petroleum and Natural Gas, which said that no funds had been earmarked for capital support to Oil Marketing Companies in the 2024-25 Budget

Oriental Trimex to raise Rs 48.51 crore; rights issue opens Thursday

Oriental Trimex, a processor and trader of natural stones, on Monday announced that the company will raise Rs 48.51 crore through rights issue. The subscription to the rights issue will open on Thursday and conclude on September 27. The company will issue up to 4.41 crore equity shares at price of Rs 11 per share (including a premium of Re 1 per share) on a rights basis to the eligible equity shareholders in the ratio of three equity shares for every two fully paid-up equity shares held by the eligible equity shareholders, Oriental Trimex said in a statement. The company has fixed September 5, 2024 as the record date to decided the eligibility of shareholders, it added. Proceeds from the issue will be used by OTL to repay its loans and working capital requirement. Also, funds will be used by the firm for setting up an additional machinery for marble block in Tamil Nadu and development of Jet-Black quarry granite in Odisha. "With only a nominal interest amount remaining, which is .

Sebi seeks to reset clock on rights issues with faster, flexible rules

From 20 days to 3: Shorter timelines among changes proposed by regulator

Tata Consumer Products closes Rs 3,000 cr rights issue after 14 days

Tata Consumer Products Ltd on Monday said it has closed its rights issue of Rs 3,000 crore. The company had opened the issue on August 5, Tata Consumer Products Ltd (TCPL) said in a regulatory filing. The meeting of the capital raising committee of the board of the company held on July 23, 2024, approved the terms of the issuance of equity shares face value of Re 1 each by way of rights issue for an amount aggregating up to Rs 2,997.77 crore, it added. "The issue opened on Monday, August 5, 2024 at 9 am and closed today (Monday), August 19, 2024 at 5 pm," the filing said. In January this year, the company's board had approved a fundraising proposal of Rs 3,500 crore, which was meant to be utilised for the acquisitions of stakes in Capital Foods Pvt Ltd and Organic India Pvt Ltd. The company had stated that raising of funds by way of issue of equity shares of face value Re 1 each would not exceed Rs 3,000 crore.

Sobha Ltd to launch rights issue on Friday to raise up to Rs 2,000 cr

Realty firm Sobha Ltd will launch its rights issue on Friday to raise up to Rs 2,000 crore mainly to reduce debt, purchase land as well as machines and meet the construction cost of its various projects. The issue will close on July 4. On June 12, the Board approved the terms of the rights issue. The Bengaluru-based company would issue 1,21,07,981 equity shares each on partly-paid basis for an amount up to Rs 2,000 crore. The price fixed for rights issue is Rs 1,651 per share (including premium of Rs 1,641 per share). The rights entitlement ratio has been fixed at 6 rights equity shares for every 47 fully paid-up equity share of the company held by the eligible equity shareholders of the company, as on the record date. On the objects of the issue, the company has proposed to utilise Rs 905 crore for repayment or prepayment, in full or in part, of certain borrowings. The company plans to utilise Rs 212.35 crore to fund certain project related expenses for ongoing and forthcoming

Orient Green Power plans to raise up to Rs 250 crore via rights issue

Orient Green Power Company plans to raise up to Rs 250 crore through issue of equity rights to its existing shareholders. The issue of equity shares with face value of Rs 10 each of the Orient Green Power Company is proposed for an aggregate amount not exceeding Rs 25,000 lakh (Rs 250 crore) on a rights basis to the existing equity shareholders of the company, a BSE filing on Saturday showed. The company has not disclosed the rights issue ratio, price of each share and the record date, said Sumedha Fiscal Services Ltd and Saffron Capital Advisors Pvt Ltd, the lead managers to the issue, citing the draft letter of offer (DLOF) dated May 17, 2024. Under the rights issue, a company invites its shareholders to buy additional shares at a discount. Shareholders get rights to purchase shares at lower than the market rate, helping the company raise funds without bringing in new investors. The company, an independent power producer that uses renewable sources like wind energy, has sought ..

IIFL Finance board approves rights issue to raise Rs 1,271.83 crore

The issue price for the rights offer is Rs 300 per share, which is at a 29% discount to closing price of Rs 421.7 per share on Tuesday

PC Jeweller gets board approval to raise Rs 2,000 cr fund via rights issue

PC Jeweller on Tuesday said its board has approved a proposal to raise Rs 2,000 crore through rights issues and preferential allotment of fully convertible warrants. The board in a meeting held on Tuesday also approved a proposal to increase the authorised share capital and alteration in the capital clause of the memorandum of association, a regulatory filing said. Out of the total of Rs 2,000 crore, the company said its board approved the plan to raise Rs 1,500 crore by way of rights issue of equity shares of Rs 10 per each to the eligible equity shareholders. The record date for the same will be notified later. The issue size of up to Rs 1,500 crore would be subject to regulatory and other approval, the filing said. That apart, the company said the board approved raising up to Rs 500 crore through a preferential allotment of fully convertible warrants. "The proceeds of the preferential issue will be utilised towards the payment of financial liabilities of the company, subject to

IIFL Finance to raise $242 mn via rights basis, non-convertible debentures

The company will raise the funds through the issue of shares on rights basis and non-convertible debentures via a private placement, it said in an exchange filing

Sidbi plans to raise Rs 5,000 cr via rights issue next financial year

Small Industries Development Bank of India (SIDBI) on Tuesday said it plans to raise Rs 5,000 crore from rights issue next financial year to fund business growth. The refinancing entity for SME finance is witnessing a strong credit growth and to further grow the business, capital would be required, he said. The bank is looking to mobilise Rs 5,000 crore from rights issue in the next fiscal, SIDBI chairman and managing director S Ramann said on the sidelines of launch of a credit programme for Jan Aushadhi Kendras here. He said the government is the biggest shareholder and SIDBI has approached them requesting their participation in the rights issue, he said. Government of India holds a 20.85 per cent stake as of March 31, 2023. Besides this, State Bank of India owns 15.65 per cent, while the share of Life Insurance Corporation of India (LIC) stood at 13.33 per cent as of March 31, 2023. The rest is held by other Public Sector Banks (PSBs) and institutions. He said the loan book of

Byju's unable to pay salaries as funds locked amid rift with investors

Byju's founder Byju Raveendran on Saturday said the edtech company will not be able to pay salaries to employees as the recent funds raised through a rights issue are inaccessible due to a legal dispute with certain investors. In a letter to staff, Raveendran said the rights issue, launched a month ago, has been successfully closed. "This was supposed to be a happy correspondence. After all, we now have funds to meet our short-term needs and clear our liabilities. However, I regret to inform you that we will still be unable to process your salaries," he said. In the letter - seen by PTI - Raveendran said the company is still striving to ensure that salaries are paid by March 10. "We shall make these payments the moment we are permitted to do so as per law," he added. Further, Raveendran said that last month, the company faced challenges due to a lack of capital, and "now we are experiencing a delay despite having funds". "Unfortunately, a select few (4 out of our 150 plus investo

The dehumanising factor

Social commentator Ziya Us Salam's book debunks popular myths around history and laments the slow encroachments on Muslim rights by far-right groups, providing truth and hope in the process

South Indian Bank approves Rs 1,151 cr rights issues to fund business

South Indian Bank on Thursday said the board of the bank has approved a rights issue raise of up to Rs 1,151 crore to fund business growth. The board has approved proposal for issuance of 5,231,85,254 rights issue on fully-paid up basis for an amount aggregating up to Rs 1,151.01 crores assuming full subscription with respect to rights equity shares, South Indian Bank said in a regulatory filing. The rights issue would be priced at Rs 22 per fully paid-up share, including a Rs 21 premium per unit on application, it said. The rights issue opens on March 6 and closes on March 20, 2024, the private sector lender added.

Byju Raveendran says company's $200 million rights issue fully subscribed

Raveendran said that Byju's will appoint a third-party agency to monitor the usage of funds raised in the rights issue

Sebi mulls removing 1% security deposit for IPOs and rights issue

The regulator added that the number of complaints per IPO have reduced after the implementation of T+3 (Trade day plus three days) listing cycle

Grasim Industries Rs 4,000 crore rights issue over subscribed two-fold

Grasim Industries said its Rs 4,000 crore rights issue has been subscribed nearly two-fold on the final day of subscription on Monday. The company has received a cumulative bid for nearly 4.34 crore shares as against 2.21 crore shares offered by the Aditya Birla Group firm, according to an exchange filing. The rights were issued at Rs 1,810 per share, which was 16 per cent less than the prevailing market price. Shares of Grasim Industries Ltd on Monday settled at Rs 2,103.05 on BSE, up 1.37 per cent from previous close. In a separate filing to stock exchanges, Grasim Industries said it has repaid Rs 600 crore to investors of its commercial paper which matured on Monday. Grasim Industries' right issues opened on January 17. Earlier on January 4, the board of Grasim Industries had approved raising of Rs 4,000 crore through a rights issue to fund its next phase of growth by issuing 2.21 crore shares having face value of Rs 2, with a premium of Rs 1,810. In October last year, Grasim

Byju's to raise $200 million via rights issue from existing investors

Byju Raveendran said that Byju's is now less than a quarter away from achieving operational profitability

Sobha jumps 10% on rights issue plan; stock zooms 48% thus far in Jan

The board of directors of Sobha are scheduled to meed on Monday, January 22, 2024, to consider the proposal of fund raising by way of equity shares through rights issue.

Fundraising through rights issues sprint in 2023, but QIPs maintain lead

Year sees revival in rights issues, with 11 companies raising Rs 7,168 crore, eclipsing previous year's total of Rs 3,884 crore by 10 companies