Startup News Magazine

Share India Securities Ltd. Approves Terms of Rights Issue

Share India Securities added to MSCI Domestic Small Cap Index.

New Delhi: Share India Securities Ltd. (BSE:540725, NSE: SHAREINDIA), a tech-based financial conglomerate specialising in the latency-based trading platform, has approved the terms for its rights issue.

The Rights Issue Committee of Share India Securities Ltd has approved the terms of Rights Issue of Equity Shares of the face value of Rs. 10 each, along with Rights Securities to the eligible shareholders of the Company was approved, for an aggregate amount not exceeding Rs. 100,000 Lakhs.

Rights Entitlement Ratio is fixed at 1 (one) Rights Equity Share along with 17 (seventeen) Detachable Warrants per Rights Equity Share, for every 50 (fifty) fully paid-up Equity Shares held by Eligible Equity Shareholders as on the Record Date. Issue Price per Rights Equity Share is at Rs. 700 per Equity Share with the face value of Rs. 10 each (including a premium of Rs. 690/- per Equity Share).

The Record Date is fixed as Tuesday, February 28, 2023. The issue Opening Date is Thursday, March 09, 2023. The issue Closing Date is Friday, March 17, 2023. The last Date for on Market Renunciation is set for Monday, March 13, 2023.

The company was recently added to MSCI India Domestic Small Cap Index. Share India has expanded its horizon and ventured into NBFC and insurance broking. SISL’s NBFC arm currently has 10 branches and plans to expand its operations. Share India also offers MF distribution and merchant banking services.

Share India has constantly endeavored to maintain the highest degree of corporate governance and has installed a capable professional team for each of its divisions.