The finalize the brief terms of Rights Issue
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The Board of Growington Ventures India Ltd (formerly VMV Holidays Ltd) approved the terms of a Rights Issue on April 23, 2025. The company will issue 49.75 crore fully paid-up equity shares of Rs. 1 each, aggregating to about Rs. 49.75 crore. The issue price is Rs. 1 per share, i.e., at face value (no premium). The rights entitlement ratio is 3 new shares for every 1 share held, which means existing shareholders will need to invest 3 times their current holding value at face value. The record date is April 29, 2025, and the rights issue window runs from May 14 to May 24, 2025. Post-issue, outstanding shares will rise from about 16.05 crore to 65.80 crore (roughly 4x expansion) assuming full subscription.
This is a heavily dilutive rights issue — the share count will roughly quadruple if fully subscribed. Existing shareholders will need to contribute significant additional capital (3:1 ratio at face value) or risk losing value through dilution. Share price may face downward pressure ex-record date as the stock typically adjusts for the rights entitlement.