Multibagger Stock Announces Rights Issue Of Equity Shares, Share Up 21% In 5 Days

Alan Scott Industries today announced the rights issue of Equity Shares of Rs. 10 each. Its share price has closed at Rs. 61.05 a piece, up by 5% intra day. Additionally, its share price has surged by 21.37% in the last 5 days.

Alan Scott Industries informed the stock exchanges, "The Board of Directors of the Company in its meeting held today, 18th November, 2022 has - decided to offer/issue 18,25,377 Equity Shares of Rs. 10/- each to the existing members/shareholders of the Company on rights basis at a premium of Rs.20/- per share (i.e. at Rs. 30/- per share) in ratio of one right share for every one share held; and formed a Committee of Directors to complete necessary formalities in connection with the Rights Issue."

Stock performance

In the last 1 month, its share price gained by 78.51%, but in the last 6 months its share price fell by 56.39%, while in the last 1 year its share price fell by 64.74%. However, this multibagger stock has given 343.36% return to the shareholders since inception. The 52-week high level of this stock is Rs. 342.30, and the 52-week low level of this stock is Rs. 32.60. It is a micro-cap company with Rs. 11 crore market capitalization.

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