Locked in 5% upper circuit, penny stock sets record date for 3:2 rights issue

With a market valuation of ₹19.44 Cr., Samor Reality Ltd. is a small-cap company that operates in the consumer discretionary industry. The right issue size has been determined by the Board to be Rs. 1612.50 Lakhs. To determine the eligibility of the shareholders, the corporation has fixed a set record for this purpose.

The company has said in a regulatory filing that “Pursuant to the Regulation 30 and other applicable regulations of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. 19th October, 2022 at 11:00 a.m. at the Registered Office of the Company and following business were considered and approved:-

1. Right Issue Size- The Board has decided and fixed Rs. 1612.50 Lakhs as the Right Issue Size

2. Number of Right Shares- 64,50,000 Equity Shares.

3. Right Issue Price- Rs. 25/- Per Equity Share (Including Re. 15/- Premium per share)

4. Right Entitlement Ratio- 3 (three) new shares for every 2 (two) Existing Equity Shares held by the eligible shareholders as on the Record Date as mentioned below.

5. Record Date- Fixed the Record Date on Friday, 11th November, 2022 for the purpose of determining the eligible shareholders to apply for the Issue.

6. Terms of Payment- The Issue Price of Rs. 25/- per Rights Equity Share (including premium of Re. 15/- Per Rights Equity Share) shall be payable at the time of application.”

The company has also said in a stock exchange filing that “This is to inform that the Board of Directors at its meeting held on 19th October, 2022 has fixed, Friday, 11th November, 2022 as the ‘Record Date’ for the purpose of determining the equity shareholders entitled to receive rights entitlements in the Rights Issue of the Company.”

The shares of Samor Reality Ltd closed on Friday at a 4.99% upper circuit limit of ₹45.20 apiece level. In its last trading session, the stock recorded a total volume of 2,000 shares compared to the 20-Day average volume of 883 shares. On a YTD basis, the stock has fallen 30.46% so far in 2022. For the quarter that ended September 2022, the company recorded a promoter shareholding of 56.77% and a public shareholding of 43.24%.