Business Daily from THE HINDU group of publications
Thursday, Aug 23, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Aug 23, 2007 ePaper |
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Markets
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Public Offer Corporate - Rights Issue
Our Bureau Mumbai, Aug 22 Dagger Forst Tools Ltd of the Yash Birla Group has come out with a composite (rights and public) issue of 73,31,104 equity shares of Rs 10 each, aggregating Rs 29 crore. The rights issue of 33,24,954 equity shares of Rs 10 each for cash at a premium of Rs 23 per share aggregating Rs 1,097.23 lakh will be to existing equity shareholders in the ratio of five for every seven held as on July 6, 2007 (record date). The public issue of 40,06,150 equity shares of Rs 10 each for cash at Rs 45 per equity share inclusive of premium, aggregate Rs 1,802.77 lakh, including promoters’ contribution of 4-lakh equity shares for cash at Rs 45 per equity share aggregating Rs 180 lakh. The net offer to the public is 36,06,150 equity shares for cash at Rs 45, totalling Rs 1,622.77 lakh. The public issue constitutes 30.09 per cent of the post issue paid up capital of the company. The rights issue that opened for subscription on August 6 will close on September 5. The public issue will be open between August 27 and September 3. The capital raised will be deployed for setting up a new plant and to repay loans, the company said.
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