Fortune Financial to turn ex-rights on Monday

Shares of Fortune Financial Services (India) will turn ex-rights on Monday. That means, for those who wish to participate in the rights issue, Friday will be the last date. It is coming out with a rights issue of 2.27 crore shares of ₹10 each at ₹90 a share in the ratio of four equity shares for every five shares held by existing investors. As the shares are quoting at around ₹160, the stock will remain in focus. As of September end, 1,500 small investors owned 2.36 per cent stake in the company.