HCC Shares Drop 9% After Rs 1,000-Cr Rights Issue Adjustment

• HCC shares fell 9% on December 5 after adjusting for a Rs 1,000-crore rights issue.
• The company announced a rights issue of up to Rs 1,000 crore on November 26, offering 80 crore shares at Rs 12.50 each.
• Eligible shareholders will receive 277 rights equity shares for every 630 fully paid-up shares held as of the December 5 record date.
• The rights issue opens on December 12 and closes on December 22, allowing shareholders to buy additional shares at a discounted price.
• Shareholders receive Rights Entitlements (REs) which can be used to apply for the issue or traded on the market.

Why It Matters: HCC's rights issue impacts shareholders by offering discounted shares.