Nicholas Piramal's rights issue at Rs 175/share

Nicholas Piramal's Committee of Directors (Rights issue) has fixed the rights issue price at Rs 175 per share.

According to a release issued by Nicholas Piramal to the BSE, the company would issue 1,90,01,600 equity shares of Rs 2 each at a premium of Rs 173 per share amounting to Rs 332.53 crore.

The release further said that the rights issue would be in the ratio of 1:10 (one rights equity share for every 10 existing equity shares).