Piramal Enterprises’ Rs 3,600-crore rights issue fully subscribed

Piramal Enterprises’ rights issue to raise over Rs 3,600 crore was fully subscribed, the company said in an exchange disclosure on Tuesday.
“The rights issue closed for subscription on Tuesday… Based on preliminary information, the total applications from ASBA and non-ASBA have exceeded the issue amount to eligible equity shareholders, and therefore, oversubscribed. The data pertaining to the applications is preliminary and subject to verification, technical rejection, and clearing of payments as applicable and finalisation of the basis of allotment,” the firm said after market hours.

Source: Business Standard