Outcome of the Right Issue Committees for extension of closing date of Right Issue.
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Eureka Industries' Rights Issue Committee has extended the closing date of its ongoing Rights Issue from 30th April 2025 to 8th May 2025 to give shareholders more time to participate. The company is issuing up to 4.9 crore fully paid-up equity shares of Rs. 10 face value at Rs. 10 per share (no premium), aggregating up to Rs. 49 crore. The ratio is 28 rights shares for every 5 shares held by eligible shareholders as on the record date of 28th March 2025. The issue is priced at par value with no premium.
Shareholders get extra time (until 8th May 2025) to subscribe, but the issue is priced at face value with zero premium, which is dilutive. Existing shareholders who do not exercise their rights will see their stake significantly reduced given the large 5.6x ratio (28 for 5).