The board of directors in their meeting held today approved the letter of offer for the Rights Issue as attached.
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Darshan Orna Limited's board has approved the Letter of Offer for a Rights Issue on October 27, 2025. The company plans to issue up to 5,00,29,335 equity shares at ₹3 per share (face value ₹2 plus ₹1 premium), targeting aggregate proceeds of up to ₹1,500.88 lakhs (~₹15.09 crore). Eligible shareholders as of the record date of October 31, 2025 will get 1 rights share for every 1 share held. The issue opens on November 13, 2025 and closes on November 21, 2025, with the last date for on-market renunciation on November 17. KFin Technologies is the registrar and Axis Bank is the banker to the issue. The rights shares are proposed to be listed on BSE, where the company is already listed.
Existing shareholders must decide by November 21, 2025 whether to subscribe, renounce their rights entitlements, or let them lapse. The 1:1 ratio will double the share count if fully subscribed, leading to significant dilution, while the small issue size suggests the funds are likely meant for modest working capital or general corporate purposes rather than a major expansion.