Multibagger stock declares 1:5 rights issue, record date falling next week

Market


With a market worth of Rs. 47.26 Cr., Roni Households Ltd. is a small-cap business that operates in the services industry. The company is dealing in household items made of plastic and plastic granules. The company provides a wide selection of plastic granules that are utilised by several plastic industries to create a variety of refined products. The firm announced a 1:5 rights issue, with the record date set for Friday, November 25, 2022.

The company has said in a stock exchange filing that its Board of Directors has “considered and approved inter alia the following terms of the Rights Issue:

1. Rights Issue Size and Price: Approved the issue of 8,67,189 equity shares of face value of Rs. 10 each, for an aggregate amount not exceeding Rs. 607.03 lakhs

2. Rights Entitlement Ratio: 1 (One) Right Equity Shares for every 5 (five) Existing Equity Shares held by the eligible shareholders as on the record date.

3. Fractional Entitlement: The Rights Equity Shares are being offered on a rights basis to existing Eligible Equity Shareholders in the ratio of One (1) Rights Equity Shares for every Five (5) Equity Shares held as on the Record Date. As per SEBI Rights Issue Circular, the fractional entitlement are to be ignored.

4′ Rights Issue Price: Rs. 701 Per Equity Share, including a premium of Rs. 60/- per Equity Share.

5. Terms of Payment: The full amount is payable on application.

6. Record Date: Friday, November 25, 2022 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (‘Eligible Equity Shareholders’,).”

On October 25, 2022, Roni Households Ltd.’s shares last closed at Rs. 109.00 per share. The stock has produced a multibagger return of 443.64% over the past five years and a multibagger return of 263.33% over the past three years. The stock has appreciated 6.86% during the past 12 months. The stock had touched a 52-week-high of 112.50 on (07/09/2022) and a 52-week-low of 79.00 on (27/10/2021). For the quarter ended September or Q2FY23, the company recorded a promoter shareholding of 59.66% and a public stake of 40.33%.

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