A 12.47% discount from the going market price was indicated by grasim industries share which announced the price of ₹1,812 per share for its ₹4,000-crore rights issue on Thursday. As per the company’s exchange filing, it intends to issue a maximum of 2.2 crore shares to the promoters and their group.
Planned for January 10, the record date, the rights issue is structured to issue six grasim industries share for every 179 shares held. January 17 through January 29 is when subscribers can subscribe to this issue.
The goal of the Aditya Birla Group’s fundraising campaign is to pay off debt and support the company’s ongoing capital expenditure plan. This proposal had been approved by the board in October of the previous year.
The promoters and the promoter group have committed to fully subscribing to their entitlements, the company announced. They also state that they intend to subscribe to any portion that remains unsubscribed.
The company that makes cement unveiled the name of its upcoming paint line in September. In the current fiscal year, Birla Opus is expected to make its market debut in the fourth quarter.
In the decorative paints market, Grasim wants to offer a wide selection of high-quality goods. When it first announced that it would invest ₹10,000 crore to start the paints business, it meant to produce 1,332 million litres of paint annually.
On Thursday, grasim industries share saw a slight decrease of 0.10%, ending the day at ₹2,068.60 apiece. The benchmark S&P BSE Sensex, however, saw a gain of 0.69%. Even with this small setback, the stock has shown resiliency, rising almost 5% since the board approved the fundraising plan on October 16.
Value of grasim industries share
Comparing Grasim Industries’ current closing price to its previous trading session, it is down -0.30% at Rs 2,064.45. The price range that Grasim Industries has been trading in is between 2,095.10 and 2,059.40. Grasim Industries contributed -2.93% so far this year and -2.48% over the previous five days.
Grasim Industries exhibits a TTM P/E ratio of 19.25, while the sector P/E stands at 25.46.
In the most recent quarter, the company reported a net profit of 1,163.75 crores.
grasim industries share listed competitors include Ambuja Cements (2.41%), Grasim Industries (-0.30%), and Ultratech Cement (-0.73%).
Grasim Industries is held by 56.91% of the public and 42.75% of promoters.As of September 30, 2023, the mutual fund’s holding in Grasim Industries was 9.18%. Compared to the previous quarter, the MF holding has dropped. As of September 30, 2023, the FII’s stake in Grasim Industries was 12.17%. Compared with the previous quarter, the FII holding has dropped.
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