The Rights issue committee has fixed 17th April, 2025 as record date in their meeting held today i.e. 9th April, 2025 to determine the eligible shareholders for rights issue
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The Rights Issue Committee of Garment Mantra Lifestyle Ltd has fixed 17th April, 2025 as the record date to determine shareholders eligible for the rights issue. The company plans to issue 39,14,97,795 partly paid-up equity shares of face value Rs. 1 each at an issue price of Rs. 1.20 per share (including Rs. 0.20 premium), aggregating to about Rs. 46.98 crores. The entitlement ratio is 39 rights shares for every 20 fully paid shares held. Only Rs. 0.30 per share is payable on application (Rs. 0.25 face value + Rs. 0.05 premium), with the balance to be called later in two or more installments. If fully subscribed, the company's outstanding shares will rise from about 20.08 crore to about 59.23 crore, nearly tripling the equity base.
Shareholders on record date (17th April 2025) will get the right to buy additional shares at a low price but should note the heavy dilution (nearly 2x share count expansion) and the obligation to pay future call money. The stock may see pressure around the record date as the partly-paid structure and large issue size typically weigh on short-term price action.