You are here: Home » News-CM » Companies » News
Business Standard

Mold-Tek Packaging update on rights issue of shares and warrants

Capital Market 

Mold-Tek Packaging update on rights issue -

Issue Price - the issuance of 1 equity share of the Company being partly paid-up of face value ~ 5 each ("Rights Equity Shares") for cash at a price of ~ 180 per Rights Equity Share (including a premium of ~ 175 per Rights Equity Share] ("Rights Equity Share Price") along with 6 detachable warrants ("Warrants") for cash at a price of ~ 184 per Warrant ("Warrant Price") (Warrant Price together with the Rights Equity Share Price, the "Issue Price"), allotted in the Issue (as defined below) for every 50 fully paid-up equity shares held by the Eligible Shareholders, for an amount collectively not exceeding ~ 7,130.44 Lakhs ("Issue Size") on a rights basis to the Eligible Equity Shareholders of the Company ("Issue");

Issue opening date - 28 October 2020 Issue closing date - 11 November 2020 Last date for on market renunciation - 06 November 2020

Fixed rights entitlement ratio as 1 Rights Equity Share along with 6 detachable warrants for every 50 fully paid-up Equity Shares held by the eligible shareholders of the Company;

Terms of Payment - Eligible Equity Shareholders shall be required to pay ~ 45/- per Rights Equity Share and ~ 46/- per Warrant, which constitutes 25% of the Issue Price (being 25% of Rights Equity Share Price and Warrant Price respectively) of Rights Securities (i.e.

Rights Equity Shares and Warrants) on application and balance amount in one or more calls as may be determined by the Committee from time to time for Rights Equity Shares and Warrant holders upon exercising their option to subscribe to equity shares against Warrants. Provided that in respect of the Rights Equity Shares, the balance amount will be called not later than 12 months whereas in respect of Warrants, the balance amount per Warrant ("Warrants Exercise Price") will be paid not later than 18 months from the date of allotment.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, October 17 2020. 11:38 IST