General Announcement for In-principle approval received from BSE for Rights Issue of fully paid-up Equity Shares by Growington Ventures India Limited
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Growington Ventures India Ltd (formerly VMV Holidays Ltd) has received an in-principle approval from BSE for its proposed Rights Issue of fully paid-up equity shares. The approval letter from BSE is dated March 26, 2025, and the company announced it to the exchange on April 18, 2025. The original application for this rights issue was submitted by the company over a year ago, on February 13, 2024. Importantly, the filing does not disclose the key terms of the rights issue such as the issue size, ratio, pricing, or any discount to market price. The company still needs to finalize the Letter of Offer, fix a record date, and complete statutory and listing requirements before launching the issue.
This is only a preliminary stock exchange approval, not the actual launch of the rights issue. Shareholders should wait for the detailed Letter of Offer to know the issue size, price, and entitlement ratio, as these will determine any dilution or value impact. Pending disclosure of terms, the stock may see some uncertainty in the short term.