Tata Motors rights issue shares start trading
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A little over 150 million new shares of Tata Motors have started trading at National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) with effect from today.
“The new securities of 150.49 million ordinary shares of Rs 2 each issued at a premium of Rs 448 per share on rights basis are listed and are permitted to trade on the exchange with effect from Monday, May 18, 2015,” Tata Motors said in a BSE notice dated May 15, 2015.
“26.51 million ‘A’ ordinary shares of Rs 2 each issued at a premium of Rs 269 per share on rights basis, also permitted to trade on the exchange,” it added.
These shares are ranking pari-passu with the existing equity shares of the company, the company said. The rights issue was over-subscribed by 1.21 times and Tata Motors collected an amount of Rs 9,040.56 crore on application, the auto maker said in a statement to the BSE.
Shares of Tata Motors were trading 1.5% lower at Rs 512 on the NSE. It touched high of Rs 524 and low of Rs 511 so far. A combined 1.49 million shares changed hands on the counter till 1054 hours on the NSE and BSE.
Tata Motors ‘A’ ordinary shares or DVR (differential voting rights) trading down marginally by 0.43% at Rs 313, after hitting low of Rs 311 in intra-day trade on the NSE.
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