Unlocking Value: Exploring Grasim Industries Ltd.'s Rights Issue in 2023

 

Mumbai: The Rights Issue of Grasim Industries Ltd. involves a total of 2,20,73,935 equity shares. These shares are offered on a partly-paid basis, and the Rights Issue size amounts to ₹3,999.80 crore. Each of these equity shares is designated as "Rights Equity Shares". Shareholders have the opportunity to subscribe to these Rights Equity Shares during the Rights Issue period by making the required payments. The aggregate amount of ₹3,999.80 crore represents the total value of the Rights Issue. Shareholders can acquire these partly-paid Rights Equity Shares by contributing the specified amount during the subscription period.
 
Rights Issue price: ₹ 1,812 per Rights Equity Share when fully paid up (including a premium of ₹ 1,810 per Rights Equity Share)
 
Record date: Wednesday, 10th January 2024
 
Rights Issue period:
1.    Rights Issue opening date: Wednesday, 17th January 2024;
2.    On-market renunciation period: Tuesday, 23rd January 2024;
3.    Off-market renunciation: It is noted that the eligible equity shareholders will have to ensure that renunciation through off-market transfers is completed in such a manner that the rights entitlements are credited to the demat account of the renounces on or before the Issue closing date; and
4.    Rights Issue closing date: Monday, 29th January 2024.
 
Rights entitlement ratio: 6 Rights Equity Shares for every 179 fully paid-up equity shares of the Company held by the eligible equity shareholders of the Company, as on the record date ("Eligible Equity Shareholders).

Key details Source: BSE https://www.bseindia.com/xml-data/corpfiling/AttachLive/54a1ee6e-de48-41ba-bae3-443d65e76956.pdf