Maha Rashtra Apex Corporation Limited has informed the Exchange regarding 'Letter of offer'.
MAHAPEXLTD · price
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Maha Rashtra Apex Corporation Limited has filed its Letter of Offer dated March 11, 2026 with BSE and NSE for a Rights Issue. The company proposes to issue up to 1,40,91,896 equity shares of face value ₹10 each at a price of ₹10 per share, aggregating up to ₹1,409.19 lakhs (about ₹14.09 crore). The ratio is 1:1, meaning shareholders get one rights share for every one share held on the record date of March 20, 2026. The issue opens on April 2, 2026 and closes on April 30, 2026, with allotment on May 4, 2026 and listing on May 6, 2026. The issue price is at par (same as face value), so there is no premium involved. Promoters include Jaya S Pai, Tonse Sudhakar Pai, Sheela Pai, Varada S Prabhu and T Satish U Pai.
Eligible shareholders as of the March 20, 2026 record date can subscribe to the rights issue in a 1:1 ratio at ₹10 per share. Since the price is at par and the issue is fully underwritten only by existing holders, fully subscribing will roughly double the share count, though at par it should not dilute book value per share. Shareholders who do not act may see their effective stake diluted.