By Malvika Gurung
Investing.com -- Shares of Gokul Agro Resources (NS:GOKG) (GARL) are under focus on Wednesday as they turned ex-rights in the ratio of 1:32. The stock traded 1.06% lower at Rs 111.6 at 9:35 am in the session.
The Rights Issue Committee of Gokul Agro’s Board had approved a Rights Issue of equity shares having a face value of Rs 2 each with an issue price of Rs 92/share, including a share premium of Rs 90 each.
The company’s proposed Rights Entitlements Ratio comprises 1 equity share for every 32 shares held by GARL’s shareholders as of the record date, with a right to renounce to the existing shareholders of the company.
The record date for determining the shareholders eligible for receiving the Rights entitlement in the Rights Issue has been set as March 8, 2023. The payment towards the issue will constitute Rs 2 towards share capital and Rs 90 towards Share Premium.
The opening date of the rights issue is March 16 (Thursday) and the closing date is March 23.
As per the terms of payment, the full amount of Rs 92/share is payable on application by the eligible shareholder or applicant, stated the small-cap company.