Letter of Offer for Rights Issue submitted: 1,96,68,019 shares at Rs.10 in 16:5 ratio

Letter of Offer for a Rights Issue of up to 1,96,68,019 fully paid-up equity shares of face value Rs.10 each at Rs.10 per share, aggregating up to Rs. 19.66 Crores, in the ratio of 16 Rights Equity Shares for every 5 held.

Mon 12 Oct 2026

Issue Size

up to Rs. 19.66 Crores

Issue Price

Rs.10 per share

Entitlement Ratio

16 Rights Equity Shares for every 5 held

What the update says

The company has submitted its Letter of Offer for a Rights Issue to SEBI and to BSE Limited. The Letter of Offer is dated October 08, 2026 and was approved by the Rights Issue Committee at its meeting held on October 08, 2026. The submission is stated to be in continuation of the company's earlier announcements of July 15, 2026, October 08, 2026 and October 12, 2026.

The terms of the issue

• Up to 1,96,68,019 fully paid-up equity shares of face value Rs.10/- each
• Issue price of Rs.10/- per Rights Equity Share, at par with face value
• Issue size aggregating up to Rs. 19.66 Crores, stated in the Letter of Offer as ₹ 1966.80 Lakhs, assuming full subscription
• Ratio of 16 (sixteen) Rights Equity Shares for every 5 (five) fully paid-up Equity Shares held
• Record date for eligibility: October 14, 2026

Who is eligible

The offer is made to eligible equity shareholders of the company holding shares as on the record date, in proportion to their holding. Rights Entitlements, carrying a separate ISIN, are to be credited in dematerialised form to eligible shareholders' demat accounts before the issue opens. Investors eligible to participate exclude certain overseas shareholders, as set out in the document.

Key dates

• Last date for credit of Rights Entitlements: Monday, 19 October, 2026
• Date of opening of the issue: Friday, 23 October, 2026
• Last date for on-market renunciation of Rights Entitlements: Monday, 26 October, 2026
• Date of closing of the issue: Friday, 30 October, 2026
• Date of finalisation of basis of allotment: Monday, 2 November, 2026
• Date of allotment: Monday, 2 November, 2026
• Date of credit of Rights Equity Shares: Tuesday, 3 November, 2026
• Date of listing: Wednesday, 4 November, 2026

What a shareholder can do with the entitlement

• Apply for the Rights Equity Shares that the entitlement covers.
• Renounce the entitlement, either on-market (through a registered stock broker on the stock exchange platform, on or before Monday, October 26, 2026) or off-market (by transfer through a depository participant).
• Off-market renunciation is to be completed so that the Rights Entitlements reach the renouncee's demat account on or prior to the issue closing date.
• Applications in this issue are to be made through the ASBA facility.

Points to note from the update

• The Board or the Rights Issue Committee has the right to extend the issue period, but not beyond 30 (thirty) days from the Issue Opening Date, inclusive of that date.
• No withdrawal of an application is permitted by any applicant after the Issue Closing Date.
• The company states it has received in-principle approval from BSE for listing the Rights Equity Shares, and BSE is the designated stock exchange.
• The registrar to the issue is Purva Sharegistry (India) Private Limited.
• The company confirms that, as on the date of the Letter of Offer, neither the company, its promoter nor its directors are categorised as wilful defaulters or fraudulent borrowers by any bank or financial institution, or a consortium thereof, in line with RBI guidelines.

How to read this

A rights issue lets existing shareholders buy additional shares in proportion to what they already hold, usually at a set price and within a fixed window. Here, both the face value and the issue price are Rs.10, so the shares are offered at par. The document also carries general risk disclosures and refers readers to the risk factors section before making an investment decision.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.