Outcome of Board Meeting held on 25.07.2025
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Franklin Industries Ltd's board, at its meeting on July 25, 2025, approved the allotment of 48.2 crore (48,20,00,000) Rights Equity Shares at a price of ₹1 per share (face value ₹1 each), raising ₹48.2 crore through the Rights Issue. As a result, the company's paid-up equity capital has risen from ₹28.92 crore (28.92 crore shares) to ₹77.12 crore (77.12 crore shares), nearly 2.67 times the previous share count. BSE had approved the basis of allotment on the same day. The board also appointed Brickwork Ratings India Pvt Ltd as the SEBI-registered Monitoring Agency to oversee the use of proceeds from the Rights Issue.
The share count has increased sharply, leading to significant dilution for shareholders who did not subscribe to the Rights Issue. However, since the issue price equals face value, eligible shareholders who subscribed receive additional shares at par value, while the company raises fresh capital for business purposes.