Allotment of Right Issue of Equity Shares
Price
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Awaiting price reaction for this filing.
Franklin Industries Ltd has completed the allotment of its Rights Issue, issuing 48.20 crore (4,82,00,000) fully paid-up equity shares at ₹1 each (face value ₹1, issued at par). This raises ₹48.20 crore for the company. As a result, the paid-up equity share capital has increased from ₹28.92 crore (28.92 crore shares) to ₹77.12 crore (77.12 crore shares). The Board also appointed Brickwork Ratings India Pvt Ltd as the monitoring agency to oversee the use of funds raised through the issue.
Existing shareholders will see dilution as the share count jumps from 28.92 crore to 77.12 crore (a ~167% increase in share base), though the issue is at par so no value leakage. The ₹48.2 crore capital infusion could support growth, but the share price may face short-term pressure due to expanded supply and the deeply discounted effective valuation.