Letter of Offer shared for rights issue of 5,89,06,105 shares at ₹10 each in 17:2 ratio
Letter of Offer shared for a rights issue of 5,89,06,105 Rights Equity Shares at ₹10 each, up to ₹5890.61 lakhs, in the ratio of 17:2.
By ScoutQuest · · 2 min read
- Issue Size
- up to ₹5890.61 lakhs
- Issue Price and Ratio
- ₹10 each; 17 Rights Equity Shares for every 2 fully paid-up Equity Shares
- Key Dates
- Record date October 30, 2026; issue opens November 06, 2026 and closes November 26, 2026
How to read this update
The company has shared its Letter of Offer for a rights issue, which is an offer of new shares to existing shareholders in proportion to the shares they already hold. The Letter of Offer is dated October 23, 2026 and was approved by the Board at its meeting held on October 23, 2026.
Issue at a glance
- 5,89,06,105 fully paid-up Rights Equity Shares of face value of ₹10 each
- Issue price of ₹10 per Rights Equity Share, the entire amount payable on application
- Issue size of up to ₹5890.61 lakhs, assuming full subscription
- 17 Rights Equity Shares for every 2 fully paid-up Equity Shares held on the record date
Key dates
- Record date: Friday, October 30, 2026
- Issue opens: Friday, November 06, 2026
- Last date for on-market renunciation: Thursday, November 19, 2026
- Issue closes: Thursday, November 26, 2026
- The Board can extend the issue period, but not beyond 30 days from the issue opening date, inclusive of that date. No application can be withdrawn after the issue closing date.
Who can apply
- Existing shareholders holding equity shares on the record date. Certain overseas shareholders are excluded from the issue.
- Rights Entitlements are to be credited in dematerialised form to eligible shareholders' demat accounts before the issue opening date.
- A retail individual investor is an individual, including an HUF applying through a karta, whose application money is not more than ₹200,000.
What a holder can do with the entitlement
- Apply for the shares in full or in part
- Apply for additional shares over and above the entitlement
- Renounce the entitlement on-market on or before Thursday, November 19, 2026
- Renounce off-market through a depository participant, ensuring the Rights Entitlements reach the renouncee's demat account on or before the issue closing date
Parties involved
- Designated stock exchange: BSE. In-principle approval for listing the Rights Equity Shares was received through BSE letter dated October 16, 2026.
- Registrar to the issue: Bigshare Services Private Limited
- Banker to the issue: Axis Bank Limited
- The company is described as professionally managed, with no identifiable promoter
What to keep in mind
- The issue brings in new shares. A shareholder who neither subscribes nor renounces will hold a smaller percentage of the company after the issue than before.
- Payment is through the ASBA route, where the application amount stays blocked in the bank account rather than being paid out immediately.
- The stated issue size of up to ₹5890.61 lakhs assumes full subscription.
Also from Interactive Financial Services
Record date for rights issue fixed: 17 rights shares for every 2 shares held
23 Oct 2026
Board approves rights issue of ~5.89 crore shares at Rs. 10 per share
23 Oct 2026
Board Meeting on October 23 to Fix Rights Issue Price, Ratio, Size and Record Date
19 Oct 2026
More numbers
- Rights Equity Shares offered5,89,06,105
- Issue price per Rights Equity Share₹10 each
- Issue size (assuming full subscription)₹ 5890.61 lakhs
- Rights Equity Shares per 2 shares held17
- Face value per Rights Equity Share10.00
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.