Rights issue size revised to ₹11,992.36 lakhs; opening date moved to October 28, 2026
Board approved a corrigendum to the rights issue Letter of Offer.
By ScoutQuest · · 3 min read
- Revised rights shares
- up to 9,99,36,366 from up to 10,00,00,000
- Revised issue size
- ₹11,992.36 Lakhs from ₹ 12,000 Lakhs
- Issue opening date
- October 28, 2026 (was October 22, 2026); listing on or about November 25, 2026
What the company has done
The Board of Directors, through a resolution passed by circulation on October 21, 2026, approved a corrigendum to the Letter of Offer dated October 08, 2026 for its ongoing rights issue. The corrigendum tweaks three things: the number of shares being issued, the total issue size, and the issue timetable. The issue price of ₹ 12 per equity share of face value ₹ 2, the 19-for-25 rights ratio and the record date of Thursday, October 15, 2026 stay as they were.
Revised issue size
- Rights equity shares: up to 9,99,36,366, against up to 10,00,00,000 in the original Letter of Offer.
- Issue size: up to ₹11,992.36 Lakhs, against ₹ 12,000 Lakhs earlier.
- The company explains this as a strict application of the 19 rights shares for every 25 shares held, where fractional entitlement has to be ignored. In simple terms, the earlier round figure was slightly higher than what the ratio actually produces across the full shareholder base, so it has been recomputed.
Revised timetable
- Issue opens Wednesday, October 28, 2026 (earlier proposed October 22, 2026).
- Last date for on-market renunciation of rights entitlements: Friday, November 13, 2026.
- Last date for receiving requests for application form and rights entitlement letter, and issue closing date: Thursday, November 19, 2026.
- Finalising basis of allotment (on or about): Friday, November 20, 2026.
- Allotment, initiation of refunds and credit (on or about): Monday, November 23, 2026.
- Listing (on or about): Wednesday, November 25, 2026 (earlier November 23, 2026).
The delay is described as being to give effect to the revised issue size and the related updates and approvals with the stock exchanges and depositories.
Where the money is going (₹ in lakhs)
- 7,500.00 towards adjustment of unsecured loans of the promoter against application money payable on subscription to rights entitlements.
- 3,200.00 towards funding working capital requirements.
- 1,267.36 towards general corporate purposes.
- Total net proceeds: 11,967.36, being gross proceeds of 11,992.36 less estimated issue related expenses of 25.00.
Because the issue size came down slightly, the net proceeds and the general corporate purposes allocation have been trimmed correspondingly; the loans and working capital allocations are unchanged.
What already stands completed
The record date of Thursday, October 15, 2026 is unaffected, and the credit of rights entitlements to the demat accounts of eligible shareholders on Wednesday, October 21, 2026 has already been completed. Trading in the rights entitlements on the exchange platform will now begin with the revised opening date of October 28, 2026 and close on November 13, 2026. The company said it will work with the depositories and the registrar on the pending applications for trading approval of the rights entitlements.
What a retail holder may take away
- If you held shares on the record date, your rights entitlements are already in your demat account; the changes are to the overall issue size and dates, not to your entitlement ratio.
- The window to apply and pay has shifted later, so the practical deadlines to act are the closing date of November 19, 2026 and, for selling the entitlements on market, November 13, 2026.
- The issue still involves a large promoter loan adjustment as the single biggest use of proceeds, alongside working capital and general corporate purposes.
Also from Shivam Autotech
Letter of Offer shared for rights issue of up to 10,00,00,000 shares at ₹12 each
13 Oct 2026
Rights issue: up to 10,00,00,000 shares at ₹12 each, ratio 19:25
13 Oct 2026
New ISIN fixed for rights entitlements ahead of rights issue
8 Oct 2026
More numbers
- Rights equity shares to be issued (revised)9,99,36,366
- Rights equity shares to be issued (as per earlier Letter of Offer)10,00,00,000
- Issue size (as per earlier Letter of Offer)₹ 12,000 Lakhs
- Issue size (revised)₹11,992.36 Lakhs
- Total net proceeds (₹ in lakhs)11,967.36
- Adjustment of promoter unsecured loans (₹ in lakhs)7,500.00
- Funding of working capital requirements (₹ in lakhs)3,200.00
- Issue price per rights equity share₹ 12
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