Board approves allotment of rights issue shares at Rs 2.07 per share

Rights issue at a steep discountCorporate Actions View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-2.0%Reaction day

₹20.32

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.6%-1.4% vs market

Non Banking Financial Company (NBFC) peers, median of 214sector-0.1%-1.9% vs sector

On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 1.9 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

-2.0-0.6-1.4-0.1-1.9

Next day

-3.9+0.5-4.4+0.1-3.9

-5.8+1.9-7.7+0.3-6.1

-7.7+2.3-10.0+0.6-8.3

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-14.8+4.0-18.7+0.0-14.8

15d

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-59.2+4.8-64.0-1.8-57.4

-66.8pendingpending-5.0-61.8

UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 214Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Company has approved allotment of 6.39 crore equity shares under its rights issue at Rs 2.07 per share against face value of Rs 10. This raises about Rs 63.90 crore. Paid-up equity capital rises from Rs 14.20 crore to Rs 78.10 crore, expanding share count from 1.42 crore to 7.81 crore shares, about 5.5 times increase.

Likely market impact

Share count rises 5.5 times, heavily diluting existing shareholders. Issue price far below face value signals weak pricing power.