Coastal Corporation: Rights, Wrongs & Lies

Something fishy about the company withdrawing its rights issue when the stock is hitting upper circuit at Rs.88.30 per share

One reply on “Coastal Corporation: Rights, Wrongs & Lies”

As per draft letter of offer, the rights issue was to raise Rs 4 Cr & it was in the ratio 1:1 …. So the rights price would be in the Rs 15-16 range ….. Stock is locked at yearly buyers circuit at Rs 88 ….. Where is the danger of such a windfall issue not being subscribed ?

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