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Bannari Amman Spinning Mills Announces Rights Issue at ₹27 per Share; Board Approves Key Terms

Updated: April 24, 2025 22:20

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Bannari Amman Spinning Mills Ltd has announced a rights issue following the approval of its Board of Directors at the meeting held on April 24, 2025. The rights issue aims to strengthen the company’s balance sheet and support future growth initiatives.
 
Key Highlights:
  • Rights Entitlement Ratio: Shareholders will be eligible to apply for 10 new equity shares for every 43 shares held as on the record date
  • Issue Price: The rights shares will be offered at ₹27 per share, providing existing shareholders an opportunity to increase their stake at a price below the current market value.
  • Board Approval: The Board has formally approved the terms of the rights issue, including the entitlement ratio, issue price, and other related matters.
  • Objective: The move is designed to raise additional capital, which will be utilized for working capital requirements, debt reduction, and general corporate purposes.
  • Record Date: The record date for determining eligible shareholders for the rights entitlement will be announced separately.
  • Shareholder Value: The rights issue is expected to enhance shareholder value by providing an affordable entry point for existing investors and supporting the company’s operational and financial stability.
  • Company Profile: Bannari Amman Spinning Mills is a leading textile manufacturer with diversified operations in spinning, weaving, knitting, processing, and garment production, primarily based in Tamil Nadu.
Shareholders are advised to stay updated for further announcements regarding the record date and detailed application process.
 
Source: Company Board Meeting Outcome, Bannari Amman Spinning Mills Ltd

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