Shares of Intellect Design Arena will turn ex-rights on Monday. It will issue five shares for every 22 shares held by existing shareholders. The Chennai-based demerged firm from Polaris Financial Technology plans to raise ₹199 crore through the issue. The board has fixed the rights issue price at ₹86. For investors wishing to participate in the issue, Friday is the cut-off date as the company fixed Tuesday as the record date.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.