3 stocks to trade ex-rights tomorrow. Last opportunity to buy shares
GACM Technologies DVR, and Indowind Energy are the three companies that have fixed July 16 as their record date for the rights issue at Re 1, Re 1, and Rs 22.5 per share, respectively.
A rights issue occurs when a company asks its current shareholders to buy additional shares at a discount before a certain date. This gives shareholders the right, but not the obligation, to purchase new shares at a discount to the market price up to a specified future date.
The record date for a rights issue is the cut-off date on which a company identifies existing shareholders to determine eligibility for the rights issue.
Below are the details of the rights issues of the companies:
GACM Technologies and GACM Technologies DVR
The board of directors approved fully paid-up equity shares and equity DVR shares of Rs 1 through a rights issue for an amount up to Rs 40 crore. The record date to determine eligible shareholders for the rights issue is July 16.
For GACM Technologies, fully paid up 34.03 crore equity Shares of the face value of Re 1 will be issued, while for GACM Technologies DVR, 5.91 crore DVR Shares of the face value of Re 1 will be issued.
The rights issue opens on July 31 and closes on August 14.
Indowind Energy
The board of Indowind Energy authorised the rights issue for an amount aggregating up to Rs 4,900 lakh, by way of a rights issue to the eligible equity shareholders of the company.
The record date for the purpose has been set as July 16.
Approximately fully paid up 2.15 crore shares, aggregating to Rs
