Home Dividend The 1:1 rights offering on textile stock established a record date, and...

The 1:1 rights offering on textile stock established a record date, and the stock finished higher.

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The 1:1 rights offering on textile stock established a record date, and the stock finished higher.

 

The textile sector is the focus of RSWM Ltd., a small-cap business with a market value of Rs. 831.90 Cr. As a pioneer in both the local and international textile sectors, the firm makes yarns and textiles. The record date for the 1:1 rights issuance has been established by the company’s board of directors, which market participants might take into account.

The following terms and conditions of the Rights Issue have been authorised by the Board of Directors of the Company, according to a stock market filing. Equity shares with a face value of Rs. 10 apiece are the first type of instrument (“Equity Shares”). 2. Total number of equity shares and rights issued: 23550842 (two crore thirty five million five hundred thousand eight hundred forty two) equity shares for up to Rs. 23550.84 lacs (Rupees twenty three million five hundred fifty lakh eight thousand four hundred) (assuming full subscription). 3. The issue price for equity shares is Rs. 100 (Rupees One Hundred Only) plus a premium of Rs. 90 (Rupees Ninety Only) per equity share. 4. Outstanding Equity Shares: 47101684 Equity Shares after the Rights Issue, 23550842 Equity Shares prior to the Rights Issue. 5. One (1) Rights Equity Shares for every One (1) Equity Shares held by the Company’s qualifying equity shareholders as of the record date is the rights entitlement ratio. 6. The dates for the issue’s opening and closing are Friday, December 23, 2022, and Friday, January 6, 2023. 7. Record Date: Friday, December 16, 2022 has been set as the Record Date for determining equity owners entitled to receive rights entitlement in the Rights Issue.

Today, the shares of RSWM Ltd finished at 354.90 a share, up 5.70% from yesterday’s closing of 335.75. Compared to the 20-Day average volume of 62,737 shares, the company had a total volume of 542,094 shares. On January 1st, 1999, the stock’s price was 23.75; now, it is trading at an all-time high of 1,394.32%. The stock has dropped 26.59% over the last year, and so far in 2022, it has dropped 24.99% YTD.

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