Tata Consumer Products Share Price Today: Shares of Tata Consumer Products fell more than 3% to a low of Rs 1217.40, intraday. The stock price of Tata Group company dropped a day after its board approved raising capital through a rights issue, with a ratio of 1:26. The company will be raising Rs 3,000 crore. However the rights issue price decided is at 35% discount to the closing price on July 23.
The rights shares will be offered to shareholders on a 1:26 ratio, which will decrease their shareholding in the company. It means that for every 26 shares held one rights equity share will be allotted. The company will be floating 36.65 million rights equity shares, This breaks down to Rs 818 per rights equity share. The company has set July 27 as the record date.
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