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Ratnaveer Precision Engineering hits record high ahead of rights issue
The company plans a proposed ₹329.99 crore rights issue at ₹264 per share, with entitlements based on a 7-for-40 ratio.
Ratnaveer Precision Engineering shares rose as much as 5% to a new record high of ₹314.90 during Monday trading, according to LiveMint Markets. The stock opened at ₹297 per share, versus a Friday close of ₹294.95.
Ahead of the proposed ₹329.99 crore rights issue, the company said eligible shareholders can subscribe to additional equity shares at an issue price of ₹264 per share. The offering includes up to 1,24,99,669 fully paid-up equity shares.
The rights issue will be offered in a ratio of 7 rights equity shares for every 40 fully paid-up equity shares held as of the record date of August 26, 2026. Under this 7:40 entitlement ratio, the article notes that a holder of 400 shares could apply for 70 rights equity shares, requiring an application amount of ₹18,480.
Ratnaveer said rights entitlements will be credited in dematerialised form under a separate RE ISIN, and that REs are not the same as equity shares. The rights entitlements are available for on-market trading or renunciation from September 2, with the last date for trading or renunciation set for September 3, and the stock has delivered 13.6% returns in a week and 70.0% in a month, the outlet reported.