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06 Apr 2016 11:15 AM, Tidings Pooja Menon

Polson announces rights issue

Ratio of rights issue - 31:39

‘Polson Ltd.’ announced rights issue on 04 April 2016 to its existing equity shareholders in the ratio of 31 fully paid-up equity shares for every 39 fully paid-up equity shares held by them, as on the record date.

The Board of Directors of the company fixed 06 April 2016 as the record date for the purpose of the rights issue of equity shares of the company. Record date is the date set by a company for the purpose of determining the shareholders’ eligibility to receive rights shares. On the record date, an individual must own the shares of the company in order to be entitled to receive rights shares.

The shares were issued at a price of Rs. 5,600 per share. This issue price included a premium of Rs. 5,550 per share, face value being Rs. 50 per share. Post the issue, the number of outstanding shares of the company will be 1,34,951 equity shares.

‘Polson Ltd.’ was incorporated in the year 1938. The main product/service group of the company is ‘Tanning extracts of vegetable origin’ and the industry group is ‘Dyes & pigments’ in Prowess. It is listed on the Bombay Stock Exchange (BSE). Market capitalisation of the company on the BSE, as on 05 April 2016 was Rs. 88.28 crore.

Information about rights issues by companies can be obtained in Prowess using either the ‘Changes in Equity Capital’ report in the report viewer or by executing a query in the ‘Changes in Capital’ query trigger. Each of these provides a lot of additional information pertaining to the rights issue such as capital issue type, security type, capital issue date, issue amount, price, ratio, XR price, XR date and returns on ex-date.