Godrej Consumer Products Limited has informed the stock exchanges that the Godrej Consumer board will consider raising capital through a rights issue. Godrej Consumer Rights Issue will be discussed during the board meeting on November 23, 2007. More details about the Godrej Consumer Rights IssueÃ‚Â including the number of shares offered in the rights issue, issue price and ratio of the rights issue will be announced by Godrej Consumer Products Limited after the board meeting is over on November 23, 2007.
Hindustan Oil Exploration Company (HOEC)Ã‚Â has informed the stock exchanges that the board of directors of the company have fixed the book closure dates for the purpose of the rights issue. The Register of MembersÃ‚Â of HOEC will remain closed from November 22, 2007 to December 03, 2007 for the purpose of determining the shareholders eligible for the HOEC rights issue.
Federal Bank has fixed the rights issue price. The Federal Bank rights issue price has been fixed at Rs. 250 per equity share of face value Rs. 10 each. Of this amount, Rs. 10 will go towards the paid up equity capital of the company and the balance Rs. 240 will go towards premium. There was heavy trading in the Federal Bank counter today. Volume of shares transacted almost touched 2 lakh shares as agains an average of little over 25000 in the past two weeks. The record date for the Federal Bank rights issue has not yet been anoounced.
Thomas Cook today informed the stock exchanges that the board of Thomas Cook India Limited has decided to postpone the proposed rights issue. The board while discussing the proposed rights issue which was expected to raise Rs. 2.25 billion said that nothing has changed with respect to its plans except the time schedule. It is not clearly known why the board has deferred the rights issue proposal.
The board of Maral Overseas Limited will meet on Thursday, October 30, 2007 to consider the ratio for the proposed rights issue. The board is also likely to fix the record date for the right issue in the same meeting. Apart from this the board of Maral Overseas LimitedÃ‚Â will approve the quarterly results of the company. More details about the Record Date and ratio of Maral Overseas Rights IssueÃ‚Â will be updated here as soon as they are announced.
The board of Rajesh Exports approved both the bonus issue and the rights issue. The board of Rajesh Exports today at the board meeting announced a very liberal bonus issue of ratio 2:1 (2 bonus shares for every 1 share held) and a 2 : 1 stock split, where the face value of the equity shares of Rajesh Exports will be split from 1 share of face value Rs. 2 each to 2 shares of face value Rs. 1 each. Both the Bonus Issue and Stock Split are subject to statuatory approval from the shareholders of Rajesh Exports in the ensuing AGM. The record date for the Rajesh Exports Bonus Issue and Stock SplitÃ‚Â is yet to be announced. Shares of Rajesh Exports zoomed as soon as the news about the bonus issue and stock split was out.
Tayo Rolls Limited had informed the stock exchanges earlier today that the board of Tayo Rolls has approved the rights issue proposal to raise a capital of Rs. 46 crore through a rights issue of shares. The board however has not yet fixed the swap ratio as well as the record date for the rights issue. The record date and the swap ratio of Tayo Rolls Rights Issue will be updated here as soon as they are available.
The record date for the BL Kashyap and Sons stock split has been fixed. The B.L. Kashyap and Sons Stock Split Record Date is October 29,Ã‚Â 2007. The face value ofÃ‚Â shares of BL Kashyap and Sons will be split from 1 share of face value Rs. 10 each to 5 shares of face value Rs. 2 each (5:1 stock split). The share prices of BL Kashyap and Sons zoomed up after the stock split record date announcement was made.
Ushdev International has informed the stock exchanges that the board of Ushdev International Limited will meet on Monday, October 15, 2007 to consider an issue of bonus shares to the shareholders of Ushdev International. The board of Ushdev International will also review the rights issue which has already been approved by the shareholders of Ushdev International in the previous EGM. More details about the Ushdev International Bonus Issue and Rights Issue including the record date and ratioÃ‚Â for the rights issue as well as the bonus issue will be available on Monday.
DIC India has fixed the price for the rights issue. The price for the DIC India Rights Issue has been fixed at Rs. 225 per share. The market price of DIC India is Rs.Ã‚Â 200 per share. It doesn’t make sense for investors to subscribe to the rights issue. They might as well purchase the shares from the secondary market. The rights issue seems to be a ploy adoptedÃ‚Â by the foreign promoters of DIC India to increase their stake in the company since they will subscribe to the unsubscribed portion in the rights issue.
Tata Steel today came out with details about its proposed rights issue. Tata Steel has come out with two different unlinked rights issues. One rights issue would be of equity shares and the other rights issue would be of 2% Cumulative Convertible Preference Shares (CCPS). Under the firs rights issue option equity shareholders of Tata Steel will get one rights for every 5 shares held. Tata Steel has priced the rights issue under this option at Rs. 300 per share. The second Tata Steel rights issue option is more complex. Here the ratio of the rights issue to the existing shareholders is 9:10 (9 rights for every 10 shares of Tata Steel held by existing shareholders of tata steel). The face value of CCPS is Rs. 100 and this will be automatically and compulsorily converted into equity shares of Tata Steel of face value Rs. 10 each. The record date for both the Tata Steel Rights Issue has been fixed as November 05, 2007.
United Breweries a Vijay Mallya (UB) group company has informed the stock markets today that the board of United Breweries (UB) will meet on 28 September 2007 to consider a rights issue. The United Breweries Rights Issue is expected to raise about 475 crores. After the rights issue announcement was made public, the shares of United Breweries soared by about 10% today.
Federal Mogul Goetze (India) Limited has informed the stock exchanges that the board of Federal Mogul Goetze (India) has fixed the record date for the rights issue. The record date for Federal Mogul Goetze (India) Limited Rights Issue is September 2007. The rights issue will be made in the ratio of 29:100 (29 rights for every 100 shares held) at a rights issue price of Rs. 145 per share of face value Rs. 10 each. The current market price of Federal Mogul Goetze (India) is Rs. 171.
West Coast Paper Mills Limited has informed the stock exchanges that the board of directors of West Coast Paper Mills LtdÃ‚Â have fixedÃ‚Â the record date for the stock split. As per the announcement, the record date for the West Coast Paper Mills Ltd stock split is November 02, 2007. The ratio of the West Coast Paper MillsÃ‚Â stock split is 5 : 1. West Coast Paper Mills will also raise capital through a rights issue in the near future.
The record date for Fortis Financial Services rights issue is today, 05 September 2007. Shareholders of Fortis Financial Services whoÃ¢â‚¬â„¢s names appear in theÃ‚Â register of shareholders ofÃ‚Â Fortis Financial Services will be eligible for the rights issue. Those eligible for the rights issue should use this as the opportunity to buy more shares at a lower price. Those who are not interested in applying for the rights issueÃ‚Â must atleast renounce (sell) their rights. If no action is taken, then the networth will be diluted since prices will fall after the rights issue as EPS is diluted due to a larger equity base.