Grasim Industries Ltd. has revealed its rights issue, offering a total of 2,20,73,935 equity shares on a partly-paid basis. The rights issue amounts to ₹3,999.80 crores, with each Rights Equity Share priced at ₹1,812 when fully paid-up, including a premium of ₹1,810 per Rights Equity Share.
The record date for the rights issue is set for Wednesday, January 10, 2024. The rights issue will span several important dates: opening on Wednesday, January 17, 2024, an on-market renunciation period until Tuesday, January 23, 2024, and off-market renunciation. It is emphasized that eligible equity shareholders must ensure the completion of off-market transfers, crediting the rights entitlements to the demat account of the renounces on or before the closing date of the issue, scheduled for Monday, January 29, 2024.
The rights entitlement ratio stands at 6 Rights Equity Shares for every 179 fully paid-up equity shares held by eligible equity shareholders of the company as of the record date. Eligible shareholders are encouraged to take note of these dates and participate in the rights issue process.
Grasim Industries Limited is a prominent publicly listed corporation in India and the flagship company of the Aditya Birla Group. 76 amazing years have passed since Grasim first opened for business. It began as an Indian textile factory and was incorporated in 1947.
