Board approves rights issue of ~5.89 crore shares at Rs. 10 per share
Board approved a rights issue of ~5.89 crore fully paid-up equity shares of face value Rs. 10/- each at an issue price of Rs. 10/- per share, totalling Rs. 5,890.61 lakhs.
By ScoutQuest · · 2 min read
- Issue size and price
- ~5.89 crore equity shares of face value Rs. 10/- each at Rs. 10/- per share, totalling Rs. 5,890.61 lakhs
- Entitlement ratio
- 17 rights shares for every 02 shares held
- Record date / issue window
- Record date: October 30, 2026; opens November 06, 2026; closes November 26, 2026
What the board approved
The board of directors met on Friday, October 23, 2026 and approved an issue of fully paid-up equity shares to existing shareholders on a rights basis. The board also approved the Letter of Offer, the Abridged Letter of Offer, the Application Form, the Rights Entitlement Letter to be shared with BSE Limited, and the pre-issue newspaper advertisement to be published before the issue opens.
Issue size and price
- Total rights issue: ~5.89 crore fully paid-up equity shares of face value Rs. 10/- each.
- Issue price: Rs. 10/- per rights equity share, which is the same as the face value.
- Amount: Rs. 5,890.61 lakhs in total, assuming full subscription.
- After the issue, total paid-up equity shares would be 6,58,36,235, aggregating Rs. 6,583.62 lakhs, again assuming full subscription.
Entitlement ratio
Shareholders receive 17 (Seventeen) rights equity shares for every 02 (Two) fully paid equity shares held on the record date.
Important dates
- Record date: Friday, October 30, 2026.
- Issue opens: Friday, November 06, 2026.
- Last date for market renunciation of rights entitlement: Thursday, November 19, 2026.
- Issue closes: Thursday, November 26, 2026.
How the share count changes
- Shares outstanding before the issue: 69,30,130.
- Shares outstanding after the issue: 6,58,36,235, assuming full subscription.
The sharp jump reflects the large ratio of 17 new shares for every 2 held.
What a rights issue means for you
A rights issue lets existing shareholders buy new shares, usually at a set price, in proportion to what they already hold. Here the price equals the face value of Rs. 10/- per share. Your entitlement is based on the shares you hold on the record date. You can apply for your entitlement, apply for extra shares, or let the entitlement lapse or be renounced during the renunciation window.
Points noted in the update
- The board has the right to extend the issue period, but not beyond 30 (thirty) days from the issue opening date.
- No withdrawal of an application will be permitted by any applicant after the issue closing date.
- The issue is subject to the terms set out in the Letter of Offer and related documents.
Also from Interactive Financial Services
Letter of Offer shared for rights issue of 5,89,06,105 shares at ₹10 each in 17:2 ratio
23 Oct 2026
Record date for rights issue fixed: 17 rights shares for every 2 shares held
23 Oct 2026
Board Meeting on October 23 to Fix Rights Issue Price, Ratio, Size and Record Date
19 Oct 2026
More numbers
- Rights issue size (equity shares)5,89,06,105
- Rights issue amountRs. 5,890.61 lakhs
- Rights issue price per shareRs. 10/-
- Face value per equity shareRs. 10/-
- Shares outstanding prior to rights issue69,30,130
- Shares outstanding post rights issue6,58,36,235
- Post-issue aggregate amountRs. 6,583.62 lakhs
- Rights entitlement ratio17 (Seventeen) for every 02 (Two)
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