Board approves Rights Issue of up to Rs. 27 crore
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On the reaction day the stock moved 0.8 pts less than Nifty Microcap 250 and in line with its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Padam Cotton Yarns board approved a rights issue of equity shares of face value Re. 1 each up to Rs. 27 crore for eligible shareholders as on a record date to be notified later. The Draft Letter of Offer was approved and an in-principle application will be filed with the exchange. Separately, Ms. Anshu Kalra was appointed as Company Secretary and Compliance Officer effective October 6, 2026.
Eligible shareholders will get rights entitlement to subscribe to more shares. Company raises capital but dilutes existing equity.