# Mittal Life Style Rights Issue 2024: Key Dates, Pricing, Market Lot, and Subscription Details
Mittal Life Style Limited, a prominent player in the textile industry, has announced its Rights Issue for 2024. This move is aimed at raising additional capital to fund its expansion plans, strengthen its balance sheet, and meet working capital requirements. For investors, a Rights Issue presents an opportunity to purchase additional shares at a discounted price, proportional to their existing holdings. In this article, we will cover the key details of the Mittal Life Style Rights Issue 2024, including important dates, pricing, market lot, and subscription details.
## 1. **Overview of Mittal Life Style Limited**
Mittal Life Style Limited is a well-established company in the textile sector, primarily engaged in the trading of fabrics. The company has a strong presence in the domestic market and is known for its wide range of fabric offerings, including shirting, suiting, and other textile products. Over the years, Mittal Life Style has built a reputation for quality and innovation, catering to both retail and wholesale customers.
## 2. **What is a Rights Issue?**
A Rights Issue is a method by which a company raises additional capital by offering its existing shareholders the right to purchase additional shares at a discounted price. The number of shares offered is typically proportional to the shareholder’s current holdings. This allows shareholders to maintain their ownership percentage in the company while benefiting from the discounted price.
## 3. **Key Dates for Mittal Life Style Rights Issue 2024**
Investors need to be aware of the important dates associated with the Rights Issue to ensure they do not miss out on the opportunity. Below are the key dates for the Mittal Life Style Rights Issue 2024:
– **Record Date**: The record date is the cut-off date to determine which shareholders are eligible to participate in the Rights Issue. Only shareholders who hold shares as of this date will be entitled to receive the rights.
– **Issue Opening Date**: This is the date when the Rights Issue opens for subscription. Shareholders can start applying for additional shares from this date.
– **Issue Closing Date**: The last date for shareholders to subscribe to the Rights Issue. After this date, the offer will no longer be available.
– **Allotment Date**: The date on which the company will allot the additional shares to the shareholders who have subscribed to the Rights Issue.
– **Listing Date**: The date on which the newly allotted shares will be listed on the stock exchange and available for trading.
### Tentative Key Dates (Subject to Change):
– **Record Date**: January 15, 2024
– **Issue Opening Date**: January 25, 2024
– **Issue Closing Date**: February 10, 2024
– **Allotment Date**: February 20, 2024
– **Listing Date**: February 25, 2024
## 4. **Pricing of the Rights Issue**
One of the most attractive aspects of a Rights Issue is the discounted price at which shares are offered to existing shareholders. The pricing for the Mittal Life Style Rights Issue 2024 is expected to be significantly lower than the current market price, providing an incentive for shareholders to participate.
– **Issue Price**: ₹[X] per share (to be announced)
The discounted price allows shareholders to acquire additional shares at a lower cost, which can potentially lead to capital appreciation if the company’s stock price rises in the future.
## 5. **Market Lot and Ratio**
The market lot refers to the minimum number of shares that can be applied for in the Rights Issue. Additionally, the company will announce the ratio in which the rights are being offered. For example, a 1:3 ratio means that for every 3 shares held, the shareholder is entitled to purchase 1 additional share.
– **Market Lot**: [X] shares (to be announced)
– **Rights Issue Ratio**: [X]:[Y] (to be announced)
## 6. **Subscription Details**
Shareholders who are eligible for the Rights Issue will receive a Rights Entitlement (RE) in their demat account. This RE can be used to subscribe to the additional shares. Shareholders have the option to either subscribe to the Rights Issue or sell their REs in the market if they do not wish to participate.
### Steps to Subscribe:
1. **Check Eligibility**: Ensure that you are eligible by verifying the record date.
2. **Receive Rights Entitlement (RE)**: The RE will be credited to your demat account.
3. **Apply for Shares**: Use your RE to apply for the additional shares through your broker or online trading platform.
4. **Payment**: Pay the subscription amount based on the number of shares you are applying for.
5. **Allotment