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SUMMARY
On October 3, several companies announced important developments, including a rights issue, a stock split, and a major refinancing through bond issuance. Check out these announcements in today’s story.
1 / 5Premier Polyfilm | The artificial leather maker will hold a meeting on October 14, 2024 to finalise the record date for the sub-division of its equity shares. The company also plans to review its standalone unaudited financial results for the quarter and half-year ended September 30, 2024.
2 / 5Mittal Life Style | The clothing brand approved a Rights Issue involving the issuance of 14.8 crore equity shares at ₹2 each (including a premium of ₹1). The issue opens on October 11, 2024, and closes on October 21, 2024, with a ratio of 1 share for every 2 held as of the record date, October 3.
3 / 5Biocon | The biotech company said its subsidiary Biocon Biologics has refinanced its $1.1 billion (₹93,468 million) long-term debt through the issuance of $800 million (₹66,763 million) senior secured notes. This marks the largest high-yield debut bond issuance from India in the last decade.
4 / 5JTL Industries | The steel pipes maker has approved subdivision of 19.65 crore equity shares of 2 each into 39.30 crore equity shares of 1 each. The record date for such division/ split shall be intimated to the stock exchanges in due course.
5 / 5Bajaj Steel Industries | The steel maker announced a bonus issue of shares for its shareholders at the end of its board meeting today. It will issue three free shares for every one share held by shareholders at the record date, which is yet to be determined. The bonus issue process will complete on or before December 2, 2024.
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