Board approves Rights Issue of up to ₹12,79,35,61,500 at ₹750 per share, ratio 2:21
Board approved a Rights Issue of up to ₹12,79,35,61,500.
By ScoutQuest · · 2 min read
- Issue Size
- ₹12,79,35,61,500
- Number of Shares
- 1,70,58,082 equity shares
- Issue Price
- ₹750 per share
- Rights Ratio
- 2 shares for every 21 shares held
- Record Date
- October 1, 2026
What was decided
The Board, at its meeting held on September 25, 2026, approved a Rights Issue of equity shares of face value ₹2 each for an amount not exceeding ₹12,79,35,61,500.
Key terms
- Number of shares offered: 1,70,58,082 Rights Equity Shares, assuming full subscription and subject to finalisation of Basis of Allotment
- Issue price: ₹750 per share, including a premium of ₹748 per share
- Entitlement ratio: 2 Rights Equity Shares for every 21 fully paid-up equity shares held on the record date
- Record date: October 1, 2026
- Issue opens: Monday, October 12, 2026; closes Thursday, October 22, 2026
- On-market renunciation period: October 12, 2026 to October 16, 2026
- ISIN for rights entitlements: INE987B20018
Effect on share count
Equity shares outstanding before the issue: 17,91,09,870. After the issue, assuming full subscription: 19,61,67,952.
What a rights issue means for you
A rights issue lets existing shareholders buy new shares at a set price in proportion to what they already hold. If you hold shares on the record date, you receive rights entitlements. You may apply for them, apply for additional shares, or sell (renounce) the entitlements on the market during the renunciation window. If you do not act, your proportionate holding in the company reduces once new shares are allotted.
Shareholders holding fewer than 21 equity shares, or a number not in a multiple of 21, will have their fractional entitlement ignored. Such shareholders get preferential consideration for allotment of one additional Rights Equity Share each if they apply for additional shares, subject to availability. Holders of fewer than 21 shares have 'zero' rights entitlement and cannot renounce; their application forms are non-negotiable.
Entitlements on shares whose ownership is under dispute, under court proceedings, under transmission, or lying in a demat suspense account will be held in abeyance until resolved.
Approvals and other business
In-principle approvals for the proposed Rights Issue were received from BSE Limited and the National Stock Exchange of India Limited, by letters each dated September 21, 2026. Remaining terms, including those on fractional entitlements, will be set out in the Letter of Offer to be shared by the Company.
The Board also approved an amendment to the Code of Conduct to regulate, monitor and report trading by designated persons, which will be placed on the Company's website.
The meeting commenced at 10:30 a.m. and completed at 11:00 a.m.
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More numbers
- Rights Issue size (maximum)₹12,79,35,61,500/-
- Number of Rights Equity Shares1,70,58,082
- Rights Issue price per share₹ 750/-
- Premium per share₹ 748/-
- Face value per share₹ 2 each
- Equity shares outstanding prior to Rights Issue17,91,09,870 equity shares
- Equity shares outstanding post Rights Issue (full subscription)19,61,67,952 equity shares
- Rights shares offered per entitlement ratio (numerator)2 (Two) Rights Equity Shares
- Existing shares required per entitlement ratio (denominator)21 (Twenty One) fully paid-up Equity Shares
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