Penny stock sets record for 127:100 rights issue ratio, down 76% from 1-year high

Small-cap Family Care Hospitals Ltd operates in the healthcare industry and has a market valuation of $43.59 billion The company’s board of directors today announced a record date for the rights issue at a ratio of 127:100, whereby the BSE closing price of the stock was positive.

The company said in a stock exchange filing that “we would like to inform you that the Rights Issuing Committee of the Board of Directors at its meeting held today, that is, Wednesday, May 28 December 2022, reviewed and approved the following provisions of the Rights Issue:

one. Rights Issue Size: up to 4,07,67,000 Fully Paid Equity Shares with par value of Rs. 10/- each has an issue price of Rs. 12/- per Equity Share (including premium Rs. 2 per Equity Share) totaling up to Rs. 48,92,04,000/- (Rupees Forty Eight Crore Ninety Two Lakhs and Four Thousands only).

b. Right issue price: Rs. 12 per Equity Share (including a premium of Rs 2 per Equity Share).

c. Recorded date: Tuesday, January 3, 2023

d. Equity shares outstanding: a. Before release of rights: 32100000 b. Permission issue*: 72867000

D. Proportion: 127 Equity Shares for every 100 Equity Shares held by the Company’s Qualified Equity Shareholders, on the date of registration).

f. ISIN for Entitlement: The Company is in the process of obtaining an ISIN for entitlement and will update accordingly.

Family Care Hospitals Ltd shares closed today on BSE at $level of 13.58 per person, an increase of 2.26% from the previous closing level of $13.28. The stock recorded a total volume of 223,503 shares compared to the 20-day average volume of 153,828 shares. The stock has gained 24% over the past 5 years and 18% over the past 3 years. The stock is down 33% over the past year, and year-to-date, it’s down 35.98% through 2022.

Stocks hit a 52-week high of $58.15 on (July 4, 2022) and the 52-week low of $11.50 days (December 26, 2022), which shows that at current market prices the stock is trading 76.64% below its 1-year high and 18.08% higher than the lowest level in the last 1 year. For the quarter ended September 2022 or the second quarter of fiscal 2023, the company reported promoter share ownership of 13.74% and public ownership of 86.26%. .

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