Tata Consumer Rights Issue: Tata Consumer, a part of salt to aviation conglomerate Tata Group, announced a rights issue worth ₹3,000 crore on Tuesday. The rights will be issued at ₹818 per share.
The company has planned to issue a total of 3,66,47,492 shares aggregating up to ₹2,997.77 at a discount of 34.97 per cent, as a regulatory filing.
The stock of the company closed 4.42 per cent higher at ₹1,258 on Tuesday on National Stock Exchange (NSE.)
Tata Consumer Rights Issue: Important Dates
As per the filing, the record date is July 27 while the rights will be issued from August 5 till August 19.
The owner of multiple FMCG brands including Tetley tea and Ching’s Secret noodles had reported a net profit of ₹217 crore for the quarter ended March 31, registering a decline of 19 per cent from ₹269 crore in the year-ago period.
The revenue of the company, however, jumped 8.5 per cent to ₹3,927 crore in the three-months period ended March 31, the company had said in an exchange filing on April 23.