Textile stock sets record date for 1:1 rights issue, stock ended on a green note
With a market valuation of Rs. 831.90 Cr., RSWM Ltd. is a small-cap company that engages in the textile industry. The company manufactures yarns and fabrics as a pioneer in both the domestic and global textile industries. The company’s Board of Directors has declared the record date for the 1:1 rights issue, which market observers can consider.
The company has said in a stock exchange filing that its Board of Directors has “approved the following terms and conditions of the Rights Issue: 1. Instrument: Equity shares having a face value of Rs. 10/- each (“Equity Shares”). 2. Total number of Equity Shares and Rights Issue size: 23550842 (Two Crore Thirty Five Lac Fifty Thousand Eight Hundred and Forty Two) Equity Shares for an amount aggregating up to Rs. 23550.84 lacs (Rupees Twenty Three Thousand Five Hundred Fifty Lac and Eight Four Thousand) (assuming full subscription). 3. Issue Price: Rs. 100/- (Rupees One Hundred Only) per Equity Share (including a premium of Rs. 90/- (Rupees Ninety Only) per Equity Share). 4. Outstanding Equity Shares: Prior to the Rights Issue- 23550842 Equity Shares, Post Rights Issue- 47101684 Equity Shares. 5. Rights Entitlement Ratio: One (1) Rights Equity Shares for every One (1) Equity Shares held by the eligible equity shareholders of the Company, as on the record date. 6. Issue Period: Issue Opening Date- Friday , 23rd December, 2022, Issue Closing Date- Friday 06th January, 2023. 7. Record Date: For the purpose of deciding equity shareholders entitled to receive the rights entitlement in the Rights Issue, Friday, 16th December, 2022 is fixed as Record Date.”
The shares of RSWM Ltd closed today at ₹354.90 apiece, up by 5.70% from the previous close of ₹335.75. The stock recorded a total volume of 542,094 shares compared to the 20-Day average volume of 62,737 shares. The stock price has risen from ₹23.75 as of 1st January 1999 to the current market price logging in at an all-time high of 1,394.32%. In the last 1 year, the stock has fallen 26.59% and on a YTD basis, it has fallen 24.99% so far in 2022.
The stock had touched a 52-week-high of ₹573.75 on (05-May-2022) and a 52-week-low of ₹285.75 on (22-November-2022), indicating that at the current market price the stock is trading 38.14% below the 1-year high and 24.19% above the 1 year low. For the quarter ended September 2022 or Q2FY23, the company reported a promoter shareholding of 53.15%, FIIs stake of 1.49%, DIIs stake of 0.15%, Government stake of 0.41% and a public stake of 44.81%.
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