The Outcome of Board Meeting for approving the Terms of Rights Issue is attached herewith.
EFCIL · price
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EFC (I) Limited's Board has approved the terms of a Rights Issue to raise up to ₹160 crore through issuance of 1.07 crore fully paid-up equity shares at ₹150 per share (face value ₹2, premium ₹148). The record date is May 7, 2026, with eligible shareholders receiving 8 rights shares for every 103 shares held. The issue opens on May 13 and closes on May 22, 2026. Post-issuance, total shares outstanding will increase from 13.73 crore to 14.79 crore assuming full subscription. The Letter of Offer will be filed and dispatched to eligible shareholders.
The rights issue will dilute existing shareholders by approximately 7.7% if fully subscribed. The ₹150 issue price represents a 57% premium over the face value, which could signal management confidence, but the document does not specify the intended use of proceeds.