The rights entitlement ratio is set at 2 rights shares for every 7 equity shares held by eligible shareholders as on the record date fixed on 25 November 2020.
The rights issue will open on 3 December 2020 and it will close on 17 December 2020. The rights issue price of Rs 30 per share is at a 50.45% discount to the ruling market price.
On 4 September 2020, the board of Pricol had approved a proposal to raise up to Rs 100 crore through rights issue of equity shares of the company.
Pricol is a leading manufacturer of automotive components for the global automotive market.
Pricol's net profit jumped 315% to Rs 19.5 crore on a 37.2% rise in net sales to Rs 320.59 crore in Q2 September 2020 over Q2 September 2019.
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