The Rights Issue Committee of ‘Anjani Portland Cement Ltd.’, as authorized by the Board of Directors of the company, approved the issue opening date, issue closing date and the last date for request of Split Application Forms in a meeting held on 17 May 2016 w.r.t the rights issue.
The Committee had approved the rights issue of equity shares in a meeting held on 07 May 2016. The committee decided to issue 3 equity shares for every 8 equity shares held by the shareholders as on record date.
The committee fixed 18 May 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.
Issue opening date, issue closing date and the last date for request of Split Application Forms were fixed on 25 May, 08 June and 01 June 2016, respectively.
68,96,099 equity shares were offered by the company under the rights issue. The shares were issued at a price of Rs. 108.75 per share. This issue price included a premium of Rs. 98.75 per share, face value being Rs. 10 per share. Post the issue, the number of outstanding shares of the company will be 2,52,85,696 equity shares. This will increase the outstanding paid up capital to Rs. 252.8 million from Rs. 183.9 million.
‘Anjani Portland Cement Ltd.’ was incorporated in the year 1983. The main product/service group of the company is ‘Ordinary portland cement’ and the industry group is ‘Cement’ in Prowess. It is listed on the Bombay Stock Exchange (BSE). Market capitalisation of the company on the BSE, as on 17 May 2016 was Rs. 412.41 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.