Rights Issue

Last week, the lender said it has received a non-binding offer from non-banking finance company Clix group for a merger

PNB Housing Finance said it will raise up to ₹1,800 crore equity capital through a preferential or rights issue

Foreign investors, flush with liquidity unleashed by global central banks, have shown strong interest in lapping up equities in emerging marketsThis week alone, four companies launched share sales totalling over ₹26,000 crore, including mortgage lender HDFC Ltd and Axis Bank Ltd

PVR proposed to issue 38.23 lakh equity shares; the company's board had fixed rights issue price at ₹784 per equity share, including a premium of ₹774 a share over face value of ₹10 per share

RIL's rights issue was open for subscription from 20 May with a simultaneous rights entitlement, or RIL RE, platform, which allowed shareholders freely trade their entitlements on a stock exchange for the first time ever

For the first time in a decade, the lender will tap the equity market to raise funds. STFC had raised ₹584 crore through a qualified institutional placement (QIP) in January 2010

ABFRL is looking to raise ₹1,000 crore through a rights issue. One of the main aims of this issue is to lower the debtMore than 1,300 stores of ABFRL’s network of 3,041 stores are operational now

Interest in rights issues is expected to grow since this is globally the fairest form of capital raising. This is anti-dilutive for shareholders and existing shareholders get an opportunity to participate in the growth of the company

The issue has been priced at ₹1,257 per share. Investors subscribing will pay in three instalmentsThe issue will also be a litmus test for stock markets which have been grappling with liquidity concerns

In case of a rights issue, a company may come out with a fresh batch of shares, but exclusively for the existing shareholders. Typically, rights issue is offered in proportion to number of shares an existing shareholder is holding. RIL is offering one rights issue share for every 15 shares held by the shareholder.