Piramal Pharma rights issue opens today. Price, ratio, other details in five points

livemint.com:

Piramal Pharma shares on rights issue record date i.e. 2nd August 2023, they are eligible for applying to this rights issue of the pharma company.

Piramal Pharma has already declared that eligible applicants would be issued five rights share for every 46 fully paid-up Equity Shares held on Record Date. So, Piramal Pharma rights issue ratio is 5:46.

Informing Indian stock market bourses about rights issue record date, Piramal Pharma said, "This is further to our intimation on the outcome of the meeting of the board of directors of the Company (“Board") dated February 8, 2023, where the issue of fully paid-up equity shares of the Company of face value of ₹10 each (“Equity Shares") was approved by way of a rights issue for an amount not exceeding ₹1,050 crore (“Rights Issue"), in accordance with the Companies Act, 2013, as amended and the rule made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws." Here we list out important Piramal Pharma rights issue details in five points: 1] Piramal Pharma rights issue date: The rights issue will open on 8th August and it will remain open till 17th August 2023. 2] Piramal Pharma rights issue ratio: The pharma company has fixed entitlement ratio at 5:46, which means entitlement of 5 rights issue for every 46 shares held by the eligible applicant.

3] Piramal Pharma rights issue price: The pharma company has declared Piramal Pharma rights issue price at ₹81 per share. Piramal Pharma share price today is around ₹100, which means the rights issue is available at a premium of near 19 per cent.