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Business News/ Markets / Stock Markets/  Multibagger stock that surged 425% in one year to trade ex-rights today
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Multibagger stock that surged 425% in one year to trade ex-rights today

Hilton Metal Forging has declared rights issue in 2:5 ratio

Stock in focus today: Hilton Metal Forging rights issue is available at a premium of near ₹18 per share. (PTI)Premium
Stock in focus today: Hilton Metal Forging rights issue is available at a premium of near 18 per share. (PTI)

Hilton Metal Forging shares are one of the multibagger stocks of Indian stock market. The small-cap stock has rallied from around 14 to 73.25 apiece levels on NSE in last one year. The multibagger stock has recently approved rights issue in 2:5 ratio on ex-date basis. The board of directors of the company has fixed 20th October 2022 as record date for rights issue. Hence, the small-cap multibagger stock is going to trade ex-rights today.

As per the information available on BSE website, "Trading Members of the Exchange are hereby informed that, HILTON METAL FORGING LIMITED has fixed Record Date for the purpose of Rights Issue of Equity Shares. The transactions in the Equity Shares of the Company should be done on Ex-Rights basis with effect from the mentioned date of 20/10/2022."

Informing Indian stock market exchanges in regard to rights issue recorded date, Hilton Metal Forging Ltd said, "In compliance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Company has fixed Thursday, October 20, 2022 as the record date For determining the equity shareholders entitled to receive rights entitlements in the Rights Issue."

Here we list out important Hilton Metal Forging rights issue details below:

1] Hilton Metal Forging rights issue price: The company is offering its shares at 55 apiece in this rights issue.

2] Hilton Metal Forging rights issue premium: Hilton Metal Forging share price today is around 73, which means the company is offering its shares at a premium of 18 per share.

3] Hilton Metal Forging right issue record date: The small-cap company has fixed record date for Hilton Metal Forging rights issue on 20th October 2022.

4] Hilton Metal Forging rights issue size (shares): The small-cap company has offered 60 lakh shares of the company from its reserves in this rights issue offer.

5] Hilton Metal Forging rights issue size (amount): The company plans to raise 33 crore from this rights issue.

6] Hilton Metal Forging rights issue entitlement: The company board has considered and approved that two rights will be issued to the eligible shareholders for every five shares held on the record date of rights issue.

7] Hilton Metal Forging rights issue listing: The rights are proposed for listing on both BSE and NSE.

The small-cap company is yet to announce subscription date, allotment and listing date.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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: 19 Oct 2022, 08:08 AM IST
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