The Board of Directors of the Company at its meeting held on February 25. 2026 considered and approved raising of funds through issuance and allotment of Equity Shares on rights basis.
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On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 1.5 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Gravity India Limited's Board of Directors, at a meeting held on February 25, 2026, approved raising funds up to Rs. 70 crores through a Rights Issue of equity shares (face value Rs. 10 each) to existing eligible shareholders. The issue price and entitlement ratio are yet to be decided by the Board or a newly constituted Rights Issue Committee. The record date for determining eligible shareholders will be notified later. The Board also approved the Draft Letter of Offer and authorized appointment of intermediaries for the issue. A Rights Issue Committee comprising Mr. Mukesh Parmar (Chairman), Mr. Kuldipsinh Rathod, and Ms. Komal Patel has been formed to oversee the process.
Existing shareholders will get the opportunity to subscribe to additional shares in proportion to their holdings, but this will dilute equity. The stock may see short-term pressure until the issue price and ratio are announced. Shareholders should watch for the record date notification and assess whether to participate based on their view of the company's growth plans.