Up 190% in 12 months, microcap Vaxfab Enterprises will turn ex-rights today

Shares of Vaxfab Enterprises, which have rallied 190 per cent in the last one year, will turn ex-rights on Tuesday. The scrip hit its 5 per cent upper circuit limit at Rs 43.45 on Monday. The microcap stock commands a market capitalisation of Rs 5.21 crore.

The company, erstwhile Ellora Trading, announced a rights issue of 72,00,000 shares, with the issue price of Rs 18 apiece. The issue size assuming full subscription is Rs 12.96 crore. The rights entitlement ratio stands at six shares for every one existing equity share that eligible equity shareholders would have in the company as on the record date I.e.  January 3.

Full amount of Rs 18 per equity share is payable on application by eligible shareholders, the company said in a BSE filing on December 30.  

On December 22, the company said: "the company has fixed Tuesday, 3rd January, 2023 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of 6 (Six) Fully

paid-up equity share of the company having face value of Rs. 10/- (Rupees Ten Only) each for every 1 (One) equity share held by the eligible existing equity shareholder in the company on rights basis.

The company is engaged in trading of insulators. It procure insulators and sell the same to parties within India. It has also engaged trading textile garments.

Meanwhile, Family Care Hospitals will turn ex-rights today. This rights issue will comprise of up to 4,07,67,000 fully paid-up shares of Family Care Hospitals and an issue price of Rs 12 per share, aggregating up to Rs 48.92 crore.

Also, Shriram Finance will turn ex-interim dividend. The company had announced a dividend of Rs 15 per share. The record date for the same is January 4. The dividend will be paid on January 23. 

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