The shares of Mercury Metals Limited and KCL Infra Project Limited will become ex-right in the coming week or first week of August. The stock will begin trading ex-rights on August 3 as a result of Mercury Metals’ board setting August 4 as the record date. The stock will be ex-righted on 4th August as the board of KCL Infra has declared 5th August as the record date. The ex-date falls one day before the record date and the stock becoming ex-rights means they are trading without the value of the upcoming rights issue. To be eligible for rights issued on the record date considering T+2 settlement in India, you must purchase the shares at least one working day prior to the ex-date to be on the record book of the company. Issuance of rights is supposed to check the eligibility of shareholders.
Mercury Metals Limited
The Board of the Company in a regulatory filing stated that “Rights issue of 15,99,14,584* (Fifteen Crore Ninety Nine Lakh Fourteen Thousand Five Eighty Four) fully paid-up equity shares of face value 1/- (Rupees One Only) (‘Rights Equity Share’) at the cost of cash for each company 3/- (Rupees three only) per right share (including one premium) 2/- (Rupees Two Only) per Right Equity Share) (‘Issue Price’) (‘Right Share’) up to an amount of Rs. 4797.44 lakh, on the basis of rights issue to eligible shareholders of Mercury Metals Limited (‘Company’ or ‘Issuer’), rights shares for every 1 (one) equity shareholder in the ratio of 23 (twenty three) on record date, Thursday, August 4, 2022, (‘number’). The issue price is 3 (three) times the face value of the equity share.”
The stock has given a multibagger return of 346.49 per cent over the previous year, and so far in 2022, it has generated a multibagger return of 247.06 per cent. The stock has given a multibagger return of 116.23 per cent in the last six months and a multibagger return of 231.73 per cent in the last six months. The stock is currently trading at Rs. 8.26 per share on the market.
KCL Infra Project Limited
“The Board of Directors (“Board”) of the Company, dated the 7th March, 2022, where approved the issue of equity shares of the Company of face value of Rupees 2 (Rupees Two only) each (‘Equity Share’) of Indian Mode of rights issue for an aggregate amount exceeding Rs.48 crore/- (Rupees forty-eight crore only) (“Rights Issue”) in accordance with the provisions of the Securities and Exchange Board (Issue and Issue of Capital) Regulations, 2018, Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements), Regulations, 2015, and the Companies Act, 2013 and the rules made thereunder, as amended from time to time, (‘rights issue’),” the company said in a regulatory filing. I have said.
Here are the details of rights issue of KCL Infra as per data available on exchange filings
Total number of securities proposed to be issued: Up to 23,69,79,000 equity shares of face value of Rs. 2/- each for a total amount up to Rs. 47,39,58,000.
issue price: Rupee. 2/- per equity share. Rupee. 0.50/- per equity share to be paid on application and balance Rs. 1.50/- per equity share on call.
Recording date: For the purpose of Friday, the 5th August, 2022. Determination of the entitled shareholders of the rights issue (“qualified equity shareholders”).
Right Issue Period: Rights Issue Opening Date – Monday, 22 August 2022, Rights Market Abandonment Date – Wednesday, 31 August, 2022, Rights Issue Closing Date – Monday, 05 September, 2022.
Rights Eligibility Ratio: 9 (nine) equity shares with right of relinquishment as on the record date for every 1 (one) equity shares held by eligible equity shareholders of the company.
Equity Shares Outstanding Before Rights Issue: 2,63,31,000 equity shares of Rs. 2/- each.
Outstanding Equity Shares after Rights Issue (Assuming Full Membership): 26,33,10,000 equity shares of Rs. 2/- each.
The company has said in BSE exchange filing that “in relation to the above rights issue and the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended and in accordance with Regulation 42 of Regulation 68 of SEBI (Capital). and Issue of Disclosure Requirements) Regulations, 2018, the Board of Directors in its meeting held today has set Friday, August 5, 2022, as the record date for the purpose of determining the equity shareholders who will be entitled to receive the rights. Rights issue.”
The stock has given multibagger returns of 299.01 per cent in the last five years, but has seen a decline of -3.82% in the last one year. The stock has gained 41.40 percent YTD so far in 2022, and has climbed 38.49 percent over the past six months. The stock has gained 21.75 per cent in the last month and has gained 21.02 per cent in the last five trading days. The last closing price of the stock was 4.03.
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