The Board of Directors has approved the issuance of 1,06,62,786 Rights Equity on Issue price of Rs. 150 for an amount aggregating to Rs. 159,94,17,900
EFCIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
EFC (I) Limited's Board has approved a rights issue of 1,06,62,786 fully paid-up equity shares at Rs. 150 per share (including Rs. 148 premium over Rs. 2 face value), raising approximately Rs. 159.94 crore. The rights entitlement ratio is 8 shares for every 103 shares held, with record date May 7, 2026. The issue opens May 13, 2026 and closes May 22, 2026. Post-issue outstanding shares will increase from 13.72 crore to 14.79 crore, implying roughly 7.2% dilution for existing shareholders assuming full subscription. The document does not specify the intended use of proceeds.
Existing shareholders face shareholding dilution of approximately 7.2% unless they participate in the rights issue to maintain their stake. The significant premium pricing (75x face value) suggests the company is well-valued, but participation decisions depend on investors' view of the company's growth prospects and potential use of funds.