Bk of Rajasthan to issue 1:5 rights at Rs 50/shr

Bank of Rajasthan will issue shares on rights basis in 1:5 ratio at Rs 50 per share.

According to a release issued by the bank to the BSE today, the board approved the rights issue in the ratio of 1:5 i.e one share for every five shares held by the shareholders at Rs 50 per share.

"Each rights share will also be attached with five warrants, entitling the warrant-holders to subscribe for a share at a discount of 15% to the average market price of the last one month," the release added.