Intimation of fixing of record date for proposed Rights issue under regulation 42 of SEBI (LODR) Regulations, 2015
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Awaiting price reaction for this filing.
Onesource Industries and Ventures Ltd has fixed Tuesday, April 15, 2025 as the record date to determine shareholders eligible for its proposed rights issue. The company plans to issue up to 48.89 crore fully-paid equity shares of Re. 1/- each at an issue price of Re. 1/- (i.e., at face value, no premium), aggregating up to Rs. 48.89 crore. The rights entitlement ratio is set at a steep 159 new shares for every 10 shares held. Existing shares are 3.075 crore, which would expand to about 51.97 crore on full subscription, making this a highly dilutive issue. The issue opens on April 30, 2025 and closes on May 21, 2025.
This is a heavily dilutive rights issue priced at face value with an unusually aggressive 159:10 entitlement ratio. Shareholders will need to put in significant additional capital to maintain their stake, and the stock is likely to face sharp price pressure as the record date approaches and after the ex-rights adjustment.