Accordingly NAPS was only Rs. 0.76* (Seventy Six cents) before the Right Issue of 25:1 at 25/-.
Net Assets of Rs. 5,264,000 and No of shares in issue was 6,900,000.
Subscribed Rights 53,100,000 (assumed that includes rights of parents 50.13%) at the rate of 25/- infused fresh capital of Rs. 1,327,500,000.
Adjusted Net Assets after Right Issue = Rs. 1,332,764,000/- (Rs. 5,264,000 + Rs. 1,327,500,000)Adjusted No of shares in issue = 60,000,000 (6,900,000 + 53,100,000)
Adjusted NAPS = 22.21
If LDEV trades at 21/- it trades below the NAPS as well.