Intimation of Allotment of Shares Pursuant to letter of offer to existing Shareholders on Right Basis
Price
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Gujarat Cotex Limited has completed its Rights Issue of 8,06,89,241 fully paid-up equity shares of Rs. 5 each at an issue price of Rs. 5 per share (at par). The rights issue, which opened on 10/04/2026 and closed on 08/05/2026, has been allotted on 13/05/2026. Following the allotment, the company's paid-up equity share capital has increased from Rs. 7.12 crore (1.42 crore shares) to Rs. 47.47 crore (9.49 crore shares), representing a massive dilution of approximately 566% in the number of shares outstanding.
Existing shareholders who participated in the rights issue have been diluted significantly as the total share count increased over 5.6 times. The shares were issued at par value (not at a discount), so existing shareholders who did not participate will face substantial dilution without any price protection.