In the Tata Steel [Telco] rights issue, equity shareholders of Tata Steel will get one rights share for every 5 shares held [5:1]. Tata Steel has priced the rights issue at Rs. 300 per share for this option.
There was one more option for investors for this rights issue. The rights issue was with ratio of 9:10 (9 rights for every 10 shares of Tata Steel held by existing shareholders of tata steel). The face value of CCPS is Rs. 100 and this will be automatically and compulsorily converted into equity shares of Tata Steel of face value Rs. 10 each. The record date for both the Tata Steel Rights Issue had been fixed as November 05, 2007.
Tata Steel limited rights issue allotment status has been declared and currently available at the given link here.
We will keep you updated on rights issue whenever we get information on.*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*