Copy of Newspaper publication for Basis of Allotment of Right shares
MAHAPEXLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Maha Rashtra Apex Corporation Limited has published the basis of allotment for its rights issue of 1,40,91,896 equity shares at Rs. 10 per share (aggregating Rs. 14.09 crore). The issue, which opened on April 2, 2026 and closed on April 30, 2026, received overwhelming response with 2,251 valid applications for 7,10,40,549 shares - representing 504.12% subscription (over 5 times oversubscribed). Out of 2,679 total applications, 428 were rejected for technical reasons. All valid applications have been duly considered for allotment. The shares are expected to commence trading on BSE and NSE from May 12, 2026, with demat credit completed on May 7, 2026. The issue follows a 1:1 rights ratio where shareholders received 1 right share for every 1 share held as of the record date of March 20, 2026.
The massively oversubscribed rights issue (5x) signals strong shareholder confidence in the company. Existing shareholders who participated will see dilution of their ownership percentage by 50% due to the 1:1 ratio, but will receive equivalent new shares. The listing on May 12 will make the new shares tradable.