Hilton Metal Forging Limited has informed the Exchange regarding Board meeting held on February 28, 2026, approving the letter of offer for rights issue of 1,67,70,000 Equity Shares.
HILTON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Hilton Metal Forging Limited's board, at its meeting on February 28, 2026, approved the Letter of Offer for a rights issue of up to 1,67,70,000 fully paid-up equity shares of face value ₹10 each. The issue price is ₹16.68 per share, which includes a ₹6.68 premium, taking the total issue size to up to ₹2,797.24 lakhs (around ₹27.97 crore). The ratio is 29 rights shares for every 60 shares held by eligible shareholders as on the record date of February 24, 2026. The issue opens on March 6, 2026 and closes on March 13, 2026, with the last date for on-market renunciation being March 10, 2026. Allotment and listing are expected on or about March 18, 2026. The proceeds will be used for purposes detailed in the objects of the issue in the Letter of Offer.
Existing shareholders must decide whether to subscribe, renounce (sell) their rights entitlements, or let them lapse by the issue closing date. If shareholders do not subscribe, their stake will be diluted by approximately 48% (29/60ths additional shares). The stock may trade ex-rights around the record date, typically leading to a price adjustment downward to reflect the theoretical value of the rights entitlement.