Rights issue: Aplab RE zooms more than 34 per cent

Post this right issue, Aplab’s paid up equity capital will stand enhanced to Rs. 10 cr from Rs. 5 cr.

Aplab rights entitlement (RE) listed on BSE soared more than 34 per cent on Friday. The RE closed at 6.72, up by Rs 1.72 on Friday.

Aplab rights issue opened on June 17 and will close on July 1. The Issue size is 5 crores while the issue price is Rs 10. The face value of shares is Rs 10. The company is expected to utilise the funds raised via rights issue to pay off its debts partially where Bank of Baroda is the lender and the remaining funds are expected to be used for regular business purposes.

Post this right issue, Aplab’s paid up equity capital will stand enhanced to Rs. 10 cr from Rs. 5 cr. Aplab is involved in the business of manufacturing electronic devices and serves the Global market with a wide range of products.

In one month, the stock has gained nearly 34 per cent while in one year the stock is up by more than 450 per cent. The stock used to trade at Rs. 3.26 per share one year back, now trading at Rs. 17.95 per share.