Rs. 48.95 crore Rights issue of Ahmedabad-based Mercury Trade Links Limited (BSE – 512415) has engaged in the business of trading agro products will open for subscription on November 7, 2024. The funds raised through the right issue will be utilised to fund company’s working capital requirements, issue expenses, general corporate among others.
Right issue of the company are offered at a price of Rs. 44.95 per share as compared to closing share price of Rs. 60.43 per share on November 6, 2024. Rights Issue will close on December 05, 2024. This is the 2nd rights issue from the company since March 2024, with first rights issue at a price of Rs. 40.00 per share to mobilize Rs. 9.90 cr.
The company will issue 1,08,90,000 fully paid-up equity shares of the face value of Rs. 10 each for cash at a price of Rs. 44.95 per equity share (including a premium of Rs. 34.95 per equity share), aggregating to Rs. 48.95 crore. Founded in 1985, Mercury Trade Links Limited specializes in trading a wide range of agro products, including fertilizers, manures, and plant and animal foods.