Home / Markets / Stock Markets /  This penny stock announces record date for rights issue: Details here

With a market valuation of 123.91, Gennex Laboratories Ltd. is a small-cap company that engages in the pharmaceutical industry. Active pharmaceutical ingredients (APIs) are made by Gennex Laboratories Limited, which also manufactures, markets, and exports APIs. Eligible shareholders need to be informed of the record date for the rights issue that the firm has announced.

The company has said today in a regulatory filing that “With reference to the Captioned subject matter and pursuant to the Intimation under Reg.30 & 42 of SEBI (LODR) Regulations, 2015 approving the First and Final Call of Rs.4.50/-(Comprising Rs.0.75/- towards face Value and Rs.3. 75/- towards Securities Premium) per partly paid-up equity shares ("the Call"), on 5 ,25,06,534 outstanding partly paid-up equity shares of face value Rs.1/- each, issued by the Company on a rights basis, pursuant to its Letter of Offer dated July 16, 2022; Further, we inform you that the Board of Directors of the Company has, at its meeting held today ie., September 26, 2022, fixed Friday, October 07, 2022 as the 'Record Date' for the purpose of determining the holders of partly paid-up equity shares to whom the Call notice will be dispatched for payment of the Call."

While the Board of Directors has set the call payment open date as Friday, October 14, 2022 and the call payment close date as Monday, October 31, 2022.

Right Issue details of Gennex Laboratories as per the data available on stock exchange filings

Rights Issue Size: Rs.37.951 Crores

Number of shares proposed/to be allotted: 6,32,51,500 Equity shares of Rs.1/- each

Issue size: Rs. 6 / - per Equity share

Amount paid for subscription/ Application: Rs.1.50 /- per share (Comprising, Rs.0.25/- towards face Value and Rs.1.25 / - towards Securities Premium)

Amount payable on First and Final call: Rs.4.50/- (Comprising Rs.0.75/- towards face Value and Rs.3 .75/- towards Securities Premium).

No. of Shareholders to whom Right Entitlement given / RE allotted: 58,459 Shareholders

Application for No. of shares: 5,46,21,881 Equity shares

No. of partly paid-up shares allotted: 5,25,06,534 (Rs.0.25 /- partly paid-up)

Date of Allotment: August 26, 2022

The shares of Gennex Laboratories Ltd closed today at 6.53 apiece, down by 3.97% from the previous close of 6.80. In the last 1 year, the stock has fallen 3.12% and on a YTD basis, the stock has fallen 41.01% so far in 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).
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