EFC (I) Limited has informed the Exchange that Board of Directors at its meeting held on April 3, 2026, has considered and approved the issuance of fully paid-up equity shares of the Company of face value of Rs. 2 each for an amount not exceeding Rs. 160 crore by way of a rights issue.
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EFC (I) Limited's Board of Directors has approved a rights issue to raise up to Rs. 160 crore by issuing fully paid-up equity shares with a face value of Rs. 2 each. Existing eligible shareholders will be offered the right to subscribe to new shares based on a ratio and record date that are yet to be determined. The pricing, entitlement ratio, and timing of the issue will be finalized by the Board later and disclosed subsequently. The issuance is subject to regulatory and statutory approvals. The specific use of proceeds has not been disclosed in this filing.
This rights issue will dilute existing shareholders as new equity is issued. The Rs. 160 crore capital raise could strengthen the company's balance sheet or fund growth, but the lack of disclosed use of funds adds uncertainty. Shareholders should monitor for the record date and entitlement ratio announcements.