Financial Daily from THE HINDU group of publications
Sunday, Jun 12, 2005
Financial Daily from THE HINDU group of publications Sunday, Jun 12, 2005 |
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Corporate
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Rights Issue NPIL prices rights issue at Rs 175 Our Bureau
MUMBAI: Nicholas Piramal India Ltd has fixed its rights issue price at Rs 175 per share. The company will be issuing a 1:10 rights issue, ie. one rights share for 10 existing shares. The company will issue 1,90,01,601 equity shares of Rs 2 each at a premium of Rs 173 per share aggregating to Rs 332.5 crore, NPIL informed the Bombay Stock Exchange. The funds being raised will be used in the expansion of NPIL's manufacturing capacities in the country, an analyst tracking the company said.
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