Sobha rights issue: Board approves issuance of equity shares of up to Rs 2,000 crore—check out entitlement, record date

Sobha rights issue price: Real estate developer Sobha shares on Thursday, June 13 were in focus, a day after the board of Bengaluru-based approved the issuance of equity shares of the company for an amount of up to Rs 2,000 crore by way of the rights issue. Sobha shares rose 7.6 per cent to the day's high of Rs 2,220 on NSE in opening deals. Sobha shares closed at Rs 2,165, up 4.97 per cent on NSE.

Sobha rights issue size

Sobha in a regulatory filing dated June 12 said, "A total number of rights equity shares and rights Issue size: 12,107,981 rights equity shares each on the partly-paid basis for an amount up to Rs 2,000 crore (assuming full subscription and payment of call monies)." 

Sobha rights issue price

The company has set the rights issue price at Rs 1,651 per rights equity share including a premium of Rs 1,641, it added.

Sobha rights issue start date, Sobha right issue end date

The rights issue will open on June 28 and will close on July 4, 2024.

Sobha rights issue record date

The firm has fixed Wednesday, June 19 as the record date.

Sobha rights issue entitlement ratio

The company will issue six rights equity shares for every 47 fully paid-up equity shares of the company held by the eligible equity shareholders of the company, as of the record date. 

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Sobha Q4 Results

Sobha posted an 86 per cent decline in consolidated net profit to Rs 7.02 crore for the quarter ended March 2024 on lower income. Total income also fell to Rs 791.25 crore in the fourth quarter from Rs 1,240.14 crore in the corresponding period of the previous year, according to a regulatory filing. Read more 

What does Sobha do?

Bengaluru-based Sobha Ltd is a real estate developer in the country with a significant presence in South India.

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