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Gujarat Cotex Limited's board approved a Rights Issue of 8,54,64,000 fully paid-up equity shares at Rs. 5 per share, which is at par with the face value. Shareholders will get 6 rights shares for every 1 share they hold as on the record date of April 1, 2026. The total issue size works out to about Rs. 42.73 crore. The issue opens on April 10, 2026 and closes on May 8, 2026, with the last date to renounce rights being May 5, 2026. BSE is the designated stock exchange for the issue, and the rights entitlements will be credited in demat form under ISIN IN8004C20010.
Existing shareholders need to either put in fresh money to subscribe to their entitlement (6 shares for every 1 held) or sell/renounce their rights by May 5, 2026. Since the issue is priced at par with no premium, it is largely a capital infusion without a free sweetener, so the stock may see pressure around the ex-rights date as the equity base expands by 7x.