SEPC Limited is set to launch a rights issue with a record date tomorrow, offering shareholders an opportunity to purchase additional shares at a discounted price. The issue opens on July 5 and closes on July 19, aiming to raise ₹200 crore by issuing 15.38 crore shares.
Shareholders will be entitled to purchase six rights equity shares for every 55 shares held at a price of ₹13 per share. Payment terms require ₹13 to be paid upon application.
The stock price is currently at ₹20.63. The last trade date before the ex-right trading date is June 24, 2024, with the ex-right trading date set for June 25, 2024. The rights entitlement (RE) trading period, last day of renunciation of rights entitlements, date of allotment, and date of listing are yet to be announced.
The effective discount per share is Rs. 0.75, calculated as the current market price minus the sum of (the number of shares multiplied by current market price) and (the number of RE multiplied by right issue price), divided by the number of shares, including RE.