Revised Outcome of Board Meeting held on 23rd April, 2025 for finalizing the brief terms of Rights Issue
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Growington Ventures India Ltd's board has finalised the terms of a Rights Issue to raise about Rs. 48.16 crore by issuing 48,16,61,820 fully paid-up equity shares of Rs. 1 each at an issue price of Rs. 1 per share (at par, no premium). Existing shareholders will get 3 new shares for every 1 share held on the record date of April 29, 2025, meaning the share count will roughly quadruple from 16.05 crore to 64.22 crore shares (assuming full subscription). The Rights Issue window runs from May 14 to May 24, 2025, with May 19 as the last date for renunciation of rights. This filing is a corrected version of the original outcome — the company fixed errors in the number of shares being issued (48.16 crore vs. the earlier 49.75 crore) and the post-issue share count.
Eligible shareholders as on April 29, 2025 will need to invest three times their current holding value to retain their proportional stake; existing shareholders who don't participate will see their holding significantly diluted. Because the issue is priced at face value with no premium and the entitlement ratio is very large, investors should watch how the shares trade closer to the ex-rights date.