CDGS stock rallies over 400% in 3 years, record date fixed for 1:1 rights issue
With a market valuation of ₹145.04 Cr, Pacific Industries Limited is a small-cap company that operates in the consumer discretionary goods and services (CDGS) sector. The firm has a strong presence in more than 40 countries thanks to its slabs, tiles, and cut-to-size products. The firm is one of the largest quarry owners and natural stone processors, with two processing facilities each in Bangalore and Udaipur.
The company has said in a stock exchange filing that “We wish to inform you that the board of directors of the Company at its meeting held today has inter alia considered and approved the following terms of the Rights Issue:
a. Total number of Equity Shares and Rights Issue size: up to 34,46,325 fully paid-up Equity Shares aggregating up to Rs. 47,90,39,175/- (Rs. Forty-Seven Crore Ninety Lakhs Thirty Nine Thousand One Hundred Seventy Five Only)
b. Rights Issue Price: Rs. 139 per Equity Share (including a premium of Rs. 129 Per Equity Share)
c. Record Date: Wednesday, 11th January, 2023
d. Rights Issue period: a. Rights Issue Opening Date: Thursday, 19th January, 2023 b. Rights Issue Closing Date: Thursday, 02nd February, 2023
e. Outstanding Equity Shares: a. Prior to Right Issue: 34,46,325 b. Post Right Issue: 68,92,650
f. Rights Entitlement Ratio: 1:l (One Rights Equity Share for every one fully paid-up Equity Shares held by the Eligible Equity Shareholders of the Company, as on the record date).
g. ISIN for Rights Entitlement: INE883C20017.”
The shares of Pacific Industries Ltd closed today on the BSE at ₹420.85 apiece level, up by 13.84% from the previous close of ₹369.70. The stock recorded a total volume of 22,812 shares compared to the 20-Day average volume of 711 shares. The stock has produced a multibagger return of 178.34% over the past five years and a multibagger return of 428.42% during the past three years. The stock has dropped 22.45% over the past year, while the scrip has gained 29.69% over the past six months. The stock had touched a 52-week-high of ₹602.00 on (13/01/2022) and a 52-week-low of ₹311.10 (12/08/2022). For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 73.99% and a public stake of 26.01%.
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