Share India Securities Ltd. (BSE: 540725, NSE: SHAREINDIA), a tech-based financial conglomerate which specializes in the latency-based trading platform, has approved the terms for its rights issue.
The Rights Issue Committee of Share India Securities Ltd, has approved the terms of Rights Issue of Equity Shares of face value of Rs. 10 each along with Rights Securities to the eligible shareholders of the Company was approved, for an aggregate amount not exceeding Rs. 100,000 Lakhs.
Rights Entitlement Ratio is fixed at 1 (one) Rights Equity Share along with 17 (seventeen) Detachable Warrants per Rights Equity Share, for every 50 (fifty) fully paid-up Equity Shares held by Eligible Equity Shareholders as on the Record Date. Issue Price per Rights Equity Share is at Rs. 700 per Equity Share of face value of Rs. 10 each (including a premium of Rs. 690/- per Equity Share).
The Record Date is fixed as Tuesday, February 28, 2023. Issue Opening Date is Thursday, March 09, 2023. Issue Closing Date is Friday, March 17, 2023. Last Date for on Market Renunciation is set to Monday, March 13, 2023.
The company was recently added to MSCI India Domestic Small Cap Index.
Share India has expanded its horizon and ventured into NBFC and insurance broking. SISL's NBFC arm currently has 10 branches and plans to expand its operations. Share India also offers MF distribution and merchant banking services.
Share India has constantly endeavoured to maintain the highest degree of corporate governance and has installed a capable professional team for each of its divisions.
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( With inputs from ANI )
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