Asian Granito India announced that its Rights Issue of Rs. 441 crore, largest ever by any Ceramic Company in India, achieved successful closure, receiving overwhelming response from the shareholders and investors despite challenging times.
The public portion of the Rights Issue was subscribed more than 1.38 times receiving bids for 6.87 crore shares or Rs. 432 crores of bids received. On an overall basis, the Company received bids for over 8.89 crore shares or Rs. 561 crores of bids in the Rights Issue on the closing date (10 May) against 6.99 crore shares or Rs. 441 crores offered, representing more than 127% subscription.
The allotment of equity shares will take place on or about 19 May 2022. The Rights shares are expected to be listed on the BSE and NSE on or around 24 May 2022.
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