Home / Markets / Stock Markets /  FMCG company Hatsun Agro Product declares 1:30 rights issue, record date fixed
Back

Hatsun Agro Product Ltd is a large cap company having a market cap of 20,759.83 Cr and the company deals in the Fast Moving Consumer Goods (FMCG) sector. The company has declared 400 Cr rights issue and the record date has been fixed for the purpose of the same for determining shareholders' eligibility.

The company has said in a stock exchange filing that “This intimation is made further to the meeting of the board of directors of the Company held on Monday, the 19th September, 2022 approving the offer and issuance of fully paid-up equity shares of the Company (the “Equity Shares") for an amount aggregating up to Rs. 400 crores, by way of a rights issue to the eligible equity shareholders of the Company (“Rights Issue"), and constituting a rights issue committee in this regard (“Rights Issue Committee"), in accordance with the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. as amended, other applicable laws and our prior intimation dated 30th November, 2022 informing the scheduled meeting of Rights Issue Committee of the Board on 3rd December, 2022. Pursuant to the above, we wish to inform you that the Rights Issue Committee of the Board at its meeting held today, i.e. Saturday, the 3rd December, 2022 has inter alia considered and approved the following terms of the Rights Issue:

a. Total number of Equity Shares and Rights Issue size: up to 71,85,444 fully paid-up Equity Shares aggregating up to Rs. 301,07,01,036 (Rupees Three Hundred One Crores Seven Lakhs One Thousand and Thirty Six only).

b. Rights Issue Price: Rs. 419 per Equity Share (including a premium of Rs. 418 per Equity Share).

c. Record Date: Thursday, 8th December, 2022.

d. Rights Issue period: a. Rights Issue Opening Date: Monday, 19th December, 2022 b. Rights Issue Closing Date: Monday, 9th January, 2023.

e. Outstanding Equity Shares: a. Prior to the Rights Issue: 21,55,63,323 b. Post Rights Issue: 22,27,48,767

f. Rights Entitlement Ratio: 1:30 (One Rights Equity Share for every thirty fully paid-up Equity Shares held by the Eligible Equity Shareholders cf the Company, as on the record date).

The shares of Hatsun Agro Product Ltd closed today on the NSE at 963.00 apiece, up by 1.85% from the previous close of 945.55. The stock recorded a total volume of 81,412 shares compared to the 20-Day average volume of 75,996 shares. On a YTD basis, the stock has fallen 23.70% so far in 2022. The stock had touched a 52-week-high of 1,394.00 on (09-Dec-2021) and a 52-week-low of 837.60 on (17-Jun-2022).

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout