Raising of Funds through Rights Issue of Fully Paid up Equity Shares
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gravity (India) Limited has finalised the terms of a rights issue of 6,90,14,950 fully paid-up equity shares at Rs. 10 per share (no premium), aggregating to about Rs. 69.01 crore. The ratio offered is 23 rights shares for every 3 shares held by eligible shareholders as on the record date of Wednesday, 08 April 2026. The rights issue opens on 27 April 2026 and closes on 25 May 2026, with the renunciation deadline on 19 May 2026. On full subscription, the company's outstanding equity shares will jump from about 90 lakh to around 7.80 crore shares — roughly an 8.7x increase. Only Rs. 10 per share is payable on application, with the board retaining discretion to make further calls later. The specific end-use of the proceeds has not been disclosed in this filing and will be detailed in the Letter of Offer.
Existing shareholders must subscribe (or renounce) their rights entitlements between 27 April and 25 May 2026 to avoid significant dilution of their stake. Since the issue is priced at face value with no premium, it is price-friendly for subscribers, but the large size of the issue (shares rising nearly 9x) makes full subscription critical for the company to achieve the targeted raise.