Small Cap Stock With Over 370% Returns In 3 Yrs Announces 10:211 Rights Issue

Som Distilleries & Breweries Ltd. on April 06, 2023, held a Board meeting, where the Board of Directors announced the 10:211 rights issue and also fixed Friday, April 14, 2023, as the record date for the same. Som Distilleries & Breweries is a small cap Beverage stock. It is one of the leading alcoholic beverages manufacturers in India engaged in the manufacturing and sale of Beer and Indian Made Foreign Liquor (IMFL). It has a market capitalisation of Rs 1,168.43 crore.

Announces 10:211 Rights Issue and Fixes Record Date

According to the exchange filing by Som Distilleries & Breweries Ltd., "The issue of 3495952 Equity Shares of face value of ₹5/- each at an issue price of ₹140/- per Equity Share (including premium of ₹135/- per Equity Share) for an amount aggregating up to ₹4,894.33 lakhs to all the existing equity shareholders of the Company on a rights basis ("Rights Issue"). The brief terms of the Rights Issue approved by the Board of Directors is annexed herewith marked as Annexure-I;"

It added, "Friday, April 14, 2023 as the record date for the purpose of determining names of shareholders of the Company eligible to apply for the Equity Shares in the Rights Issue of the Company ("Record Date");"

Issue Opening Date	Wednesday, April 26, 2023
Last date for On Market Renunciation of the Rights Entitlements*	Monday, May 8, 2023
Issue Closing Date#	Thursday, May 11, 2023

According to the exchange filing, "* Eligible Equity Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat account of the Renouncee(s) on or prior to the Issue Closing Date."

Furthermore, "#Our Board or Rights Issue Committee thereof will have the right to extend the Issue period as it may determine from time to time but not exceeding 30 (thirty) days from the Issue Opening Date (inclusive of the Issue Opening Date). Further, no withdrawal of Application shall be permitted by any Applicant after the Issue Closing Date."

Stock Performance and Current Market Price

The stock of Som Distilleries & Breweries last traded at Rs 158.40/share, a decline 0.19% from the previous close. It traded at the 52 week high on 6 April 2023 at Rs 162.70/share, and 52 week low on 12 May 2022 at Rs 53.90/share, respectively.

The stock has performed well in the past 5 years, gave positive returns. It gained 13.02% in 1 week, 28.94% in 1 month and 31.56% in 3 months, respectively. It has given 124.36% positive return in 1 year. In 3 years it gave a robust 371.78% positive return. However, in 5 years returns declines compared to 3 years, gave 28.13% positive return.

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