Vodafone Idea is the top loser on the BSE currently, hitting a new record low once again today at Rs.14.95. The stock has been losing for the last 4 days and has fallen -16.25% in the period.
The fall is because the stock turned ex-date for rights issue on March 29.
The company is coming out with a Rs.25,000 crore rights issue wherein shareholders will be able to buy 87 shares for every 38 shares held; this will be at a price of Rs.12.50/share.
The rights issue opens on 10th April and closes on 24th April.
Our Editor, SP Tulsian says, “ Its best to exit existing shares now and apply for rights, which you can then hold for one year.” He expects ex-rights price at Rs.18.