Record date: Wednesday, 10th January 2024
FinTech BizNews Service
Mumbai, January 4, 2024: Grasim Industries Ltd. Is going to raise Rs4000 crore by issuing 2,20,73,935 equity shares of the Company on rights basis. Grasim Industries has set the Rights Issue price at Rs1,812 per Rights Equity Share. The issue price is at 12% discount to the closing price of Rs2609 on Thursday.
Total number of rights equity shares and Rights Issue size: 2,20,73,935 equity shares of the Company each on partly-paid basis ("Rights Equity Shares”) for an amount aggregating to Rs 3,999.80 crore.
b. Rights Issue price: Rs 1,812 per Rights Equity Share when fully paid-up (including a premium of Rs 1,810 per Rights Equity Share)
Record date: Wednesday, 10th January 2024
d. Rights Issue period:
1. Rights Issue opening date: Wednesday, 17th January 2024;
2. On-market renunciation period: Tuesday, 23rd January 2024;
3. Off-market renunciation: It is noted that the eligible equity shareholders will have to ensure that renunciation through off-market transfers are completed in such a manner that the rights entitlements are credited to the demat account of the renouncees on or prior to the Issue closing date; and
4. Rights Issue closing date: Monday, 29th January 2024.
Rights entitlement ratio: 6 Rights Equity Shares for every 179 fully paid-up equity share of the Company held by the eligible equity shareholders of the Company, as on the record date ("Eligible Equity Shareholders
