Issue of up to 48,16,61,820 equity shares of face value of Rs 1/- (Rupees One Only) each at a price of Rs 1/- per rights equity share aggregating up to Rs 48,16,61,820/- ("rights issue'''') ....
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On the reaction day the stock moved 2.4 pts less than Nifty Microcap 250 and 2.2 pts less than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Growington Ventures India has allotted 48,16,61,820 equity shares under its rights issue at Rs 1 per share (face value), aggregating to about Rs 48.17 crore. The issue was offered in the ratio of 3 rights shares for every 1 share held, with the record date being April 29, 2025. The Board's resolution approving the allotment was passed on June 23, 2025. As a result, the company's paid-up equity capital has risen from Rs 16.06 crore to Rs 64.22 crore, a roughly 4x increase. The newly allotted shares will rank pari-passu with existing equity shares.
The 3:1 rights ratio is highly dilutive for existing shareholders. Since shares were issued at par (Rs 1) which is likely well below the market price, shareholders who did not subscribe face significant value erosion. Investors should review their holdings and the company's use-of-funds plan for the Rs 48 crore being raised.