Share India fixes record date for Rights Issue - check details

Share India Securities Ltd, NSE: SHAREINDIA has approved the terms for its rights issue of face value of Rs 10 each along with Rights Securities to the eligible shareholders of the company for an aggregate amount not exceeding Rs 100,000 Lakhs.
 
Rights issue is a corporate action wherein a company issues shares to existing shareholders in proportion to their holding at a special price. The tech-based financial conglomerate has fixed Rights Entitlement Ratio at 1 Rights Equity Share along with 17 Detachable Warrants per Rights Equity Share, for every 50 fully paid-up Equity Shares held by shareholders.

"Issue Price per Rights Equity Share is at Rs. 700 per Equity Share of face value of Rs 10 each (including a premium of Rs 690/- per Equity Share)," the latency-based trading platform said in an exchange filing.

Share India Rights Issue Record Date

The company has also fixed February 28 as the record date for Rights Issue. 

Share India Rights issue: Opening and closing date 

The issue opening date has been fixed on March 9 while the closing date is March 17. 
 
The company was also recently added to MSCI India Domestic Small Cap Index. Share India has expanded its horizon and ventured into NBFC and insurance broking. SISL’s NBFC arm currently has 10 branches and plans to expand its operations. Share India also offers MF distribution and merchant banking services.

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