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Business News/ Markets / Stock Markets/  Multibagger stock of 2022 announces record date for rights issue in 23:1 ratio
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Multibagger stock of 2022 announces record date for rights issue in 23:1 ratio

Mercury Metals Ltd., a small cap company that is engaged in the trading sector, with a market valuation of Rs. 5.47 Cr currently.

The stock closed at ₹7.87 apiece level up by 4.93% from its previous close. (istockphoto)Premium
The stock closed at 7.87 apiece level up by 4.93% from its previous close. (istockphoto)

Mercury Metals Ltd., a small cap company that is engaged in the trading sector, with a market valuation of Rs. 5.47 Cr currently. For each equity share owned by eligible shareholders as of the record date, the company has stated that it would issue 23 (Twenty Three) Rights Equity Shares for every 1 (One) Equity share held.

The company has said in a regulatory filing that “In relation to the Issue and Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 68 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 the Board at its meeting held today i.e. Monday, 25" July, 2022 has approved the following terms and conditions:"

a) Total No. of Equity Shares & Right Issue Size: 15,99,14,548 Fully paid up Equity Shares each amount aggregating to Rs. 47,97,43,752/-.

b) Right Issue Price: Rs.3/- (Rupees Three Only) per Equity share (including premium of Rs.2/- per Equity Share over and above the Face Value of Re.1/- per Equity Share).

¢) Rights Entitlement Ratio: 23 (Twenty Three) Rights Equity Shares for every 1 (One) Equity share held by the eligible shareholders as on the Record date.

d) Record Date: Thursday, August 4, 2022 for the purpose of determining the shareholders who shall be eligible to receive the Rights Entitlement in the Issue.

e) Right Issue Period: _ Issue Opening Date: Tuesday, August 16, 2022 Issue Closing Date: Tuesday, August 30, 2022.

The stock closed at 7.87 apiece level, up by 4.93% from its previous close. In the last 1 year, the stock has delivered a multibagger return of 325.41% and on a YTD basis, the stock has delivered a multibagger return of 230.67% so far in 2022. In the last 6 months, the stock has managed to deliver a multibagger return of 216.06% and also has provided a multibagger return of 126.80% in the last 1 month.

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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).
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 27 Jul 2022, 09:41 PM IST
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