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Spencer’s Retail (SRL) is coming with the issue of 1,06,04,563 Rights Equity Shares for money at value of ₹75 per fairness share. The firm goals to gather ₹80 crore by the Rights Issue which is opening on Tuesday . The firm intends to make the most of the online proceeds from the issue to meet its working capital wants and different normal functions.
A Rights Issue is a proposal to the prevailing shareholders of the corporate to buy extra shares at a reduced value. The Rights shares are issued in proportion to their present shareholding.
Here are the important thing factors:
1) The Issue will open for subscription on August 04 and can shut on August 18.
2) The firm is providing 2 rights shares for each 15 shares held on July 29.
3) The issue is solely lead managed by ICICI Securities Ltd. and Link Intime India Pvt. Ltd. is the registrar to the issue. Post allotment, shares shall be listed on BSE, CSE and NSE. SRL is spending Rs. 2.32 cr. for this rights issue course of.
4) Last date for market renunciation is August 13. Renunciation means the place an eligible worker refuses to subscribe to the rights issue and let it lapse. An eligible worker could surrender the shares in favor of one other individual as a substitute of letting it lapse.
5) The shares shall be allotted on August 25 and shall be listed on August 27.
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