Astec LifeSciences Limited has informed the Exchange that Board of Directors at its meeting held on Jun 30, 2025, has decided to issue equity shares on rights basis in the ratio of 1 : 7, i.e 1 Equity Share for every 7 Equity Shares held. Issue Price is 890 per share.
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Astec LifeSciences' board has approved a rights issue of up to 28.01 lakh equity shares at Rs. 890 per share, aiming to raise approximately Rs. 249.35 crore. Existing shareholders will be offered 1 new share for every 7 shares they hold, with the record date set for July 4, 2025. The issue price includes a premium of Rs. 880 over the Rs. 10 face value, meaning shares are being issued at roughly 89 times face value. The rights issue opens on July 14, 2025 and closes on July 28, 2025. Pre-issue equity share count stands at 1.96 crore, which will expand to about 2.24 crore assuming full subscription.
Eligible shareholders must decide whether to put in additional money or let their rights entitlements lapse by July 28, 2025. If existing shareholders do not subscribe, their stake in the company will be diluted by roughly 14.3%. Whether the Rs. 890 price is attractive depends on the prevailing market price, but the high premium over face value suggests pricing close to market levels.