Ultracab India Announces ₹49.81 Crore Rights Issue at Attractive Discount

Ultracab (India) Limited has announced the terms of its rights issue, offering shareholders 9 new shares for every 25 existing shares held at ₹14.50 per share. The ₹49.81 crore rights issue comes at an attractive discount to the current market price of ₹16.55. This strategic fundraising initiative follows the company's strong performance, with a ROE of 15.74% in FY24. The rights issue price represents a significant opportunity for existing shareholders to increase their holdings in the company, which has shown consistent growth with a CAGR of 15.11%.

Source: BSE Filing