A Tata group company Rs. 3,000 crore will be raised; Check Tata Consumer Products Rights Issue Record Date and other details
In January, TATA Consumer said its board had authorized capital raising through a rights issue.
Tata Group company Tata Consumer Products Limited announced that its board has approved raising around Rs 3,000 crore from eligible issues.
In a stock market filing today, the FMCG major said a total of 3,66,47,492 equity shares, valued at Rs 2,997.77 crore, will be issued at a discount of 34.97 per cent.
Tata Consumer Products Rights Issue: Record Date
The record date will be July 27, 2024 and the rights issue period will begin on August 5 and end on August 19, 2024, according to the stock filing.
In January, the firm said its board had authorized capital raising through a rights issue.
As per the terms of the rights issue, shares will be issued to eligible stockholders in the ratio of 1:26. Shareholders who held shares of Tata Consumer Products on the record date will be entitled to one right equity share for every 26 shares held by them.
Tata Consumer Products Q4 Results
Tata Consumer Products Limited reported a 9 per cent rise in revenue from operations at Rs 3927 crore in the March quarter on a consolidated basis. In Q4FY23, the Tata Group's consumer products company posted revenues of Rs 3619 crore.
“For Right Equity Shares to be offered under this Issue, if the shareholding of any of the Eligible Equity Shareholders is less than 26 Equity Shares or not in multiples of 26 (twenty six), such Eligible Equity Shareholders shall have fractional rights. rights were ignored in the calculation of entitlements,” the company said in an exchange filing.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.)
Also Read: