26
Feb 2010
Jayshree Chemicals Limited Rights issue offer
by promoJayshree Chemicals, a S K Bangur group outfit, is going in for a rights issue of 2.40 crore shares of Rs 10 each at a premium of Rs 5 per share.
The proceeds of Rs 35.99 crore will be utilised to part finance its capacity expansion at a cost of Rs 150 crore at the company’s plant in Orissa’s Ganjam district.
The rights issue ratio is nine shares for two shares held.
Even though the stock price is at a decline, the issue price is still at a substantial discount to the market price.
The company has changed the record date for the issue entitlement from Monday to Thursday. The right issue opens today feb 26th 2010 and closes on march 8th 2010.
