Rights issue committee has allotted Rights Issue Shares.
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JMJ Fintech Ltd (formerly Meenakshi Enterprises), a Coimbatore-based NBFC listed on BSE, announced that its Rights Issue Committee has approved the allotment of 2.56 crore partly paid-up equity shares under its rights issue. The shares have a face value of ₹10 each and were issued at ₹10.50 per share, of which ₹3.15 (including a ₹0.15 premium) was paid on application, with the balance due on a future call. Post-allotment, the company's total paid-up equity share capital rises to ₹38.40 crore comprising 3.84 crore shares, more than doubling from the earlier ₹12.80 crore. The allotment was made on August 21, 2025, in line with the Letter of Offer dated July 12, 2025.
Shareholders should expect dilution of their stake as the share count has effectively tripled (from 1.28 crore to 3.84 crore shares), and they will need to arrange funds for the remaining call money when it is triggered by the Board. The issue price being only ₹0.50 above face value suggests the rights were priced close to par, which may be attractive relative to prevailing market price.