Fixed the Record Date 4th June 2025 for the purpose of determining the eligible shareholders to apply for the Right Issue
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Awaiting price reaction for this filing.
Franklin Industries has finalized terms of its rights issue approved by the Rights Issue Committee on 29th May 2025. The company will issue 48.2 crore fully paid-up equity shares at ₹1 per share (face value ₹1), aggregating to about ₹48.2 crores. The entitlement ratio is 5 new shares for every 3 shares held, which will nearly triple the share count from 28.92 crore to 77.12 crore shares if fully subscribed. The record date to identify eligible shareholders is 4th June 2025, with the issue window running from 12th June to 30th June 2025. Payment is required at the time of application.
This is a highly dilutive rights issue — existing shareholders will see their stake shrink by about 62% if they do not participate, and need to invest roughly ₹1.67 for every ₹3 of current holding to maintain their stake. The issue is priced at face value with no premium, which may pressure the stock price as the ex-rights date approaches.