GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of agrochemicals manufacturer UPL are likely to remain in focus on Thursday announced plans to raise up to Rs 3,378 crore through a rights issue priced at Rs 360 per share. The funds will be raised through the issuance of 9.38 crore partly paid-up equity shares. The issue price of Rs 360 represents a discount of about 34% to UPL's closing price of Rs 546.85 on November 19 on the BSE. The company stated that the rights issue offers eligible shareholders one share for every eight fully paid-up shares held as of the record date, November 26. The issue price includes a face value of Rs 2 and a premium of Rs 358, payable in installments—Rs 90 on application and Rs 270 in subsequent calls, according to the company’s filing. Also read: Honasa Consumer shares crack 34% in just 2 days. Is the glow fading away? The subscription period begins on December 5 and ends on December 17, with an on-market renunciation window from December 5 to D...

[hfe_template id='11223'] [ad_1] India's markets regulator is working to streamline the fundraising process for companies and simplifying public offer documents for investors, Chairperson Madhabi Puri Buch said on Friday. The Securities and Exchange Board of India (SEBI) is working to merge rights issues and preferential allotments to expedite fundraising, Buch said at an event in Mumbai, adding that combining the two would cut the time companies need to raise funds by half. In a rights issue, a company invites its current shareholders to buy additional stock at a discount. In contrast, a preferential allotment is when a company issues shares or convertible securities to a select group of investors outside its existing shareholders, not through a public offering. If a company has received approval for a rights issue, it can it can also allocate shares preferentially to new investors if part of the issue remains unsubscribed, Buch said. The regulator is also working...