On November 20, 2024, UPL announced that it plans to raise ₹3,377.74 crore by offering a rights issue of 9,38,25,95 partly paid shares at ₹360 each. The company will issue one new share for every eight existing shares held by shareholders.
The record date for the issue is set for Tuesday, November 26, 2024. The subscription period will begin on Thursday, December 5, and end on Tuesday, December 17, 2024.
A rights issue allows companies to raise funds by giving current shareholders the opportunity to buy new shares at a discounted price. Shareholders can either subscribe to the new shares, sell their rights, or choose not to participate. UPL confirmed this decision in a filing to the stock exchange, stating that the Rights Issue Committee had approved the offer on November 20, 2024.
The highest and lowest prices for UPL shares in the past 52 weeks were ₹625.00 on October 1, 2024, and ₹447.80 on March 14, 2024, respectively.
On November 21, 2024, UPL share price opened at ₹544.00, touching the day’s low at ₹536.85 as of 09:34 AM on NSE.
UPL mainly focuses on producing and selling agrochemicals, industrial chemicals, chemical intermediates, specialty chemicals, and seeds for field crops and vegetables.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Nov 21, 2024, 9:41 AM IST
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