Hatsun Agro, which has closed on Friday at Rs.500, opened higher today at Rs.518 and rose to an intraday high at Rs.540. It is currently trading at Rs.530 levels and is among the top five gainers on the BSE.
The company, on Saturday announced a rights issue. It’s a Rs.527 rights issue and is scheduled to open on the 13th May, Wednesday. The issue closes on July 5.
The company is offering partly paid-up shares on rights basis to eligible shareholders in the ratio of one partly paid-up share for every 16 fully paid-up shares held on June 1, 2018 - the record date.
Hatsun proposes to issue 95.10 lakh partly paid-up shares at Rs.555/share.
The only object of the issue include repayment of outstanding loans, including loans to YES Bank.