In the company filing with the exchanges, Hilton Metal said that a total of 60 lakh shares at an issue price of Rs 55 per share, aggregating to Rs 33 crore, shall be issued, assuming full subscription. The issue price of Rs 55 includes a premium of Rs 45 per share. This is at a substantial discount of over 30% from the stock’s closing price on Friday of Rs 79.9 apiece on the NSE.
Accordingly, under the rights issue, the smallcap entity will issue two rights equity shares for every five shares held by the existing shareholders on the record date.
Commanding a m-cap of around Rs 120 crore, Hilton Metal is a YTD multibagger stock that delivered 277% returns during the period. Also, the stock’s last 1-year and 3-year returns are at an astounding 510% and 874%, respectively.
Forging is one of the leading manufacturers & distributors of steel forged flanges, fittings & oilfield and marine products for both the domestic & international markets.
