The Letter of offer for the Rights Issue of Equity Shares is attached.
EFCIL · price
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EFC (I) Limited has filed its Letter of Offer for a Rights Issue of up to 1,06,62,786 fully paid-up Equity Shares of face value ₹2 each. The issue price is ₹150 per share (including ₹148 share premium), aggregating to ₹159.94 crore. Existing shareholders on the record date (May 7, 2026) will receive rights in the ratio of 8 shares for every 103 shares held. The issue opens on May 13, 2026 and closes on May 22, 2026. CARE Ratings Limited has been appointed as the Monitoring Agency for the issue proceeds.
The rights issue will dilute existing shareholders who do not participate. At ₹150 per share vs face value of ₹2, the issue is priced at a significant premium which may limit participation. The company appears to be raising capital for business operations given it operates in the flex space/real estate sector through multiple subsidiaries.