Swiss Military Consumer price reduced after Right issue

I had a doubt regarding sudden fall in stock price for Swiss Military which was closed at Rs. 27 on 20th July 2022. And the Ex date for the Right issue was 21st July 2022. On 21st same day Market opened at Rs. 17.15 difference is Rs. 9.83 hence there is 36% down - Could you please share the reason and calculation behind huge fall for only right issues


This post explains the effect of Rights Issue on stock prices: What effect does rights issue have on stock price? - #3 by ShubhS9