Please find enclosed the Draft Letter of Offer dated June 03, 2025 for the Rights Issue of Ethos Limited.
ETHOSLTD · price
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Ethos Limited has filed the Draft Letter of Offer dated June 3, 2025, for a proposed Rights Issue of fully paid-up equity shares with a face value of Rs. 10 each, aggregating up to Rs. 410 Crores. The issue will be offered to eligible existing shareholders on a rights basis in a ratio and at a price that are yet to be finalised (placeholders in the draft). Promoters of the company are Yashovardhan Saboo, KDDL Limited, and Mahen Distribution Limited. KFin Technologies is the Registrar to the Issue and CRISIL Limited is the Monitoring Agency. The company's shares are listed on both BSE and NSE, and the Draft Letter of Offer is currently being shared with the exchanges for record purposes only, not for final subscription.
Existing shareholders should wait for the final Letter of Offer, which will disclose the issue price, entitlement ratio, and record date, to decide whether to subscribe, renounce, or let the rights lapse. The size of the issue (Rs. 410 Crores) suggests a potential dilution, and the stock may see short-term pressure around the record date and ex-rights trading.