Board approves rights issue terms: 3 rights shares for every 8 held, price ₹1.50 per share
Board approved the detailed terms of a rights issue after BSE and NSE gave in-principle approval on October 23, 2026.
By ScoutQuest · · 2 min read
- Issue Price
- ₹1.50 per share (including a premium of ₹0.50)
- Rights Ratio
- 3 rights shares for every 8 shares held
- Aggregate Amount
- not exceeding ₹1180.17 Lakhs
The board met on October 29, 2026 and approved the detailed terms of a rights issue, after BSE and NSE gave their in-principle approvals on October 23, 2026.
What is being offered
- Up to ~7.87 crore fully paid-up equity shares of face value ₹ 1 each.
- Price: ₹ 1.50 per rights equity share, including a premium of ₹ 0.50 per share.
- Aggregate amount: not exceeding ₹1180.17 Lakhs, assuming full subscription.
- The entire rights issue price is payable at the time of making the application.
Who can apply and in what proportion
Shareholders holding equity shares on the record date, November 04, 2026, are the eligible shareholders. They will receive 3 rights equity shares for every 8 equity shares of face value ₹1 each held on that date.
Rights Entitlements will be credited to the demat accounts of eligible shareholders under ISIN INE018420013 before the issue opens. The company has made arrangements with NSDL and CDSL for this credit.
Important dates
- Issue opens: November 13, 2026
- Last date for on-market renunciation: November 16, 2026
- Issue closes: November 20, 2026
- The board or its committee can extend the closing date, as long as the total issue period does not exceed 30 days from the opening date.
Effect on the number of shares
- Shares outstanding before the issue: 20,98,06,690
- Shares outstanding after the issue, assuming full subscription: 28,84,84,199
Because more shares are created, each existing shareholder's slice of the company becomes smaller unless they subscribe to their entitlement. The issue price of ₹1.50 per share compares with a face value of ₹1 per share.
What an eligible shareholder can do
- Apply for the rights equity shares in full or in part, and/or
- Renounce the Rights Entitlement in full or in part, either on-market through the stock exchange platform or off-market through a transfer, within the timelines given in the Letter of Offer.
Anyone who wants an allotment must apply on or before the issue closing date and pay the full application amount. Rights Entitlements that are not subscribed by the closing date lapse, and no rights equity shares are allotted against them.
The board also approved and adopted the Letter of Offer and related documents for update with BSE and NSE, which will later be sent to eligible shareholders as on the record date.
Also from Suvidhaa Infoserve
Board approves unaudited September 2026 quarter results; auditor review finds no material misstatement
5 Nov 2026
Board meeting on November 05, 2026 to consider and approve September quarter results
2 Nov 2026
Record date November 04, 2026 fixed for the rights issue at ₹1.50 per share
29 Oct 2026
More numbers
- Rights issue size (shares)7,86,77,509
- Aggregate amount of issue₹1180.17 Lakhs
- Rights issue price per share₹ 1.50
- Premium per rights equity share₹ 0.50
- Face value per share₹ 1
- Rights entitlement ratio3 Right Equity Shares for every 8 Equity Shares
- Outstanding shares prior to the issue20,98,06,690
- Outstanding shares post the issue (full subscription)28,84,84,199
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