This is in furtherance of our earlier approval of Board of Directors on March 30, 2026, and Draft Letter of Offer dated March 31, 2026, submitted for obtaining ''In-Principle Approval'' ....
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GS Auto International Ltd's Rights Issue Committee has approved a rights issue of up to 2.90 crore partly paid-up equity shares at ₹10 per share (₹5 on application, ₹5 on calls). The face value is ₹5 per share, with an aggregate issue size of ₹2,902.92 lakhs (approximately ₹29 crore). Existing shareholders will receive 2 rights shares for every 1 share held (2:1 ratio), with May 22, 2026 as the record date. Post-issue, total equity shares will increase from 1.45 crore to 4.35 crore assuming full subscription. The company received in-principle approval from BSE on May 15, 2026.
Existing shareholders face significant dilution — the share count will nearly triple if fully subscribed. Shareholders must either subscribe to maintain their stake or accept ownership reduction. The partly paid structure reduces immediate capital outflow but creates future call money obligations.