BAJAJ BROKING

Notification
No new Notification messages
Wagons Learning IPO is Open!
Apply for the Wagons Learning IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Tata Consumer Products Announces ₹3,000 Cr Rights Issue at ₹818/share

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Tata Consumer Products will raise ₹3,000 crore through a rights issue, offering 3.66 crore shares at ₹818 each. Shareholders are entitled to one rights share for every 26 shares they hold. While the record date is July 27, the right issue can be applied between August 5 and August 19, 2024.

Tata Consumer Rights Issue News

Tata Consumer Products Ltd. (TCPL) revealed details of its upcoming rights issue on Tuesday, July 23, aiming to raise up to ₹3,000 crore. This move follows the board's approval of the rights issue in January this year.

Rights Issue Details

TCPL plans to issue 3.66 crore rights equity shares, amounting to ₹2,997.77 crore. Each rights share is priced at ₹818, reflecting a 35% discount to TCPL's closing price on Tuesday. The existing shareholders will be entitled to one rights equity share for every 26 shares they hold.

Shareholder Entitlements and Record Date

Shareholders holding fewer than 26 shares will not have rights entitlement but can apply for additional rights equity shares, receiving preference in allotment for one additional share. However, these shares cannot be renounced to third parties.

The record date for the rights issue is set for July 27, 2024, a Saturday. The issue will open on August 5 and close on August 19, 2024.

Renunciation Process

Renunciations can be executed on the market from August 5 to August 12, 2024, allowing rights to be sold on exchanges. Off-market renunciations, where the buyer and seller agree on a price privately, can occur until the issue closes, provided the buyer has enough time to apply.

Strategic Acquisitions

Earlier this year, TCPL acquired a 100% stake in Capital Foods, the owner of brands Ching's Secret and Smith & Jones, for ₹5,100 crore. Additionally, the company acquired Organic India for ₹1,900 crore, marking its entry into the health and wellness category.

Stock Performance

Tata Consumer share price ended 4.4% higher at ₹1,258, in line with broader FMCG sector gains yesterday, on the Union Budget day. Year-to-date in 2024, the Tata Consumer Products share price has risen 17%.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Read More Blogs

Disclaimer :

The information on this website is provided on "AS IS" basis. Bajaj Broking (BFSL) does not warrant the accuracy of the information given herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or suitability for any particular purpose. While BFSL strives to ensure accuracy, it does not guarantee the completeness, reliability, or timeliness of the information. Users are advised to independently verify details and stay updated with any changes.

The information provided on this website is for general informational purposes only and is subject to change without prior notice. BFSL shall not be responsible for any consequences arising from reliance on the information provided herein and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Interest rates, fees, and charges etc., are revised from time to time, for the latest details please refer to our Pricing page.

Neither the information, nor any opinion contained in this website constitutes a solicitation or offer by BFSL or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.

BFSL is acting as distributor for non-broking products/ services such as IPO, Mutual Fund, Insurance, PMS, and NPS. These are not Exchange Traded Products. For more details on risk factors, terms and conditions please read the sales brochure carefully before investing.

Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

[ Read More ]

For more disclaimer, check here : https://www.bajajbroking.in/disclaimer

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

9.5 lakh+ Users

icon-with-text

4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4400+ Cr MTF Book

icon-with-text