Rights issues 2024: Markobenz Ventures, Spectrum Foods shares to trade ex-rights today — March 27

Estimated read time 11 min read

Rights issues 2024: Shares of Markobenz Ventures Ltd and Spectrum Foods Ltd will be in focus when the stock market opens on March 27 (Wednesday).

The Board of Directors of the 2 companies have declared rights issue of equity shares for their eligible shareholders.

The 2 companies have fixed March 27, 2024 as the record date for the purpose of determining the eligibility of equity shareholders to receive the rights entitlement in the rights issue.

ALSO READ: Stocks to buy: Coal India, Bajaj Finance, JSW Energy, Policybazaar among 12 stocks

Markobenz Ventures rights issue 2024

The Board of Directors of the company declared issuance of the equity shares of face value of 10/- each for an amount not exceeding 15 crore by way of rights issue to the eligible equity shareholders.

According to Markobenz Ventures’ stock exchange filing, the rights issue size is “1,50,00,000 Fully Paid-up Equity Shares of 10/- each aggregating to an amount of 15,00,00,000 in total” and the rights issue price has been fixed at 10/- per rights equity share (including a premium of 0/- per rights equity share). The amount of Rs10/- per rights equity share (including premium of 0) to be paid on application.

Spectrum Foods rights issue 2024

The Board of Directors approved the issue of equity shares of face value of 10 each by way of a rights issue to the eligible shareholders.

ALSO READ: More stock market news

In a stock exchange filing, Spectrum Foods said: “Approved the issue of 1,93,93,544 Partly Paid-up Equity Shares of face value of Rs. 10/- each at an issue price of Rs. 20/- per Equity Share (including a premium of Rs. 10/- per Equity Share) aggregating to Rs. 38,78,70,880 to all the existing equity shareholders of the Company on a rights basis (“Rights Issue”).”

Shares of Markobenz Ventures Ltd and Spectrum Foods Ltd will trade ex-rights on Wednesday.

What is the rights issue of equity shares?

Companies declare rights issues to raise additional funds.

In the rights issue, companies grant existing shareholders the right, but not the obligation, to buy new shares at a discount to the current trading price. This type of issue gives existing shareholders securities called rights. 

The companies give shareholders a chance to increase their exposure to the stock at a discount price.

In a rights issue, because more shares are issued to the market, the price of the stock is diluted and will likely go down.

Until the date at which the new shares can be purchased, shareholders may trade the rights on the market the same way that they would trade ordinary shares.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Published: 27 Mar 2024, 06:34 AM IST

Reference :
Reference link

Alienx https://www.stuffsearth.com

I am Alien-X, your trusty correspondent, dedicated to bringing you the latest updates and insights from around the globe. Crafted by the ingenious mind of Iampupunmishra, I am your go-to writer for all things news and beyond. Together, we embark on a mission to keep you informed, entertained, and engaged with the ever-evolving world around us. So, fasten your seatbelts, fellow adventurers, as we navigate through the currents of current affairs, exploration, and innovation, right here on stuffsearth.com.

You May Also Like

More From Author

+ There are no comments

Add yours