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Stock Under Rs 5: Rights Issue Record Date Tomorrow, Stock Hits 5% Upper Circuit
Leading small cap financial services stock, Visagar Financial Services Ltd has announced rights issue in the ratio of 51:10. The company has fixed price for the rights issue at Re 1 per share. The company has fixed record date as December 30, 2022 for the rights issue.
The stock touched 5% upper circuit in trade today when it climbed to Rs 2.46 apiece. The stock has given multibagger returns over the years with last 5-years return at 768%. Check key details below:
1. Visagar Financial Services Ltd Rights Issue Record Date Tomorrow
The board of directors of the small cap financial services stock stated in the BSE filing, "With reference to captioned subject, this is to inform that the Board of Directors at their meeting held today on December 20, 2022 inter alia, fixed Friday, December 30, 2022 as the "Record Date" for the purpose of determining the name of Equity Shareholders of the Company eligible to apply for the Rights Equity Shares in the Rights Issue of the Company."
Key details pertaining to the Rights Issue of Visagar Financial Services is:
1) Right issue size: 49,73,87,700 equity shares of face value of ₹1 each for an aggregate amount of ₹49,73,87,700 only.
2) Right Issue Price: Rs. 1/- Per Equity Share
3)Right Entitlement Ratio: 51 (Fifty-One) Rights Equity Share(s) for every 10 (Ten) fully paid- up Equity Share(s)
4) Rights Issue Schedule: The issue opening date- (Thursday) January 12, 2023, Last Date on Market Renunciation of RE- (Wednesday) January 25, 2023, Issue closing date- (Thursday) February 02, 2023.
2. Visagar Financial Services Stock Performance & Return
The last trading price of the stock is Rs 2.46 apiece with an intraday gain of 4.68%. The stock hit 5% upper circuit intraday today. The stock's 52-week high is Rs 6.97 apiece and 52-week low is Rs 1.22 apiece, respectively.
The company has a market capitalisation of Rs 23.99 crore. The shares of the company have rallied 768% in last 5-years. The stock has given return of 88% in just 1-month and 65% in last 3-months.
3. About Visagar Financial Services Limited
It is a leading non-banking financial company. It provides financial, corporate, and other advisory services for raising of funds from banks and other sources. The small cap company was incorporated in 1994.
Disclaimer
The stock gives details pertaining to Rights Issue record date and other vital information. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
