Outcome of Board meeting for Approval allotment Pursuant to Letter of offer to existing shareholders by way of Right issue
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Gujarat Cotex Limited has completed a rights issue, allotting 8,06,89,241 fully paid-up equity shares of Rs. 5 each at par price of Rs. 5 per share. The issue opened on 10/04/2026 and closed on 08/05/2026, raising approximately Rs. 40.34 crore. Post-allotment, the company's paid-up equity share capital increased from Rs. 7.12 crore to Rs. 47.47 crore. The shares were allotted to eligible shareholders and/or renouncees as per the Letter of Offer, with the basis of allotment finalized in consultation with the Registrar and approved by BSE Limited.
This is a significant equity dilution event — the share count increased over 6.6x, substantially diluting existing shareholders. The shares were issued at par (face value), meaning no premium for existing holders. The filing does not disclose how the raised funds will be used.