FynX Capital approves up to Rs 80 crore rights issue at 4-for-1 ratio
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On the reaction day the stock moved 3.2 pts more than Nifty Microcap 250 and 4.6 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board approved raising up to Rs 80 crore through a rights issue of up to 80 million equity shares of Rs 1 face value each. Eligible shareholders as of the record date may subscribe in a 4-for-1 ratio. A committee will approve the draft letter of offer. The issue price and record date were not disclosed.
The raise may strengthen capital and support growth, but shareholders who do not subscribe may face dilution, potentially weighing on the share price.