Outcome of Board Meeting for deciding the terms of the Rights issue
Price
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The board of Padam Cotton Yarns has finalised the terms of its rights issue, deciding to issue 9.03 crore fully paid-up equity shares at Rs. 2.07 per share (face value Rs. 1 plus Rs. 1.07 premium), aiming to raise about Rs. 18.71 crore assuming full subscription. Existing shareholders will get 7 rights shares for every 10 shares they hold. The record date has been fixed as February 24, 2026. The issue will open on March 2, 2026 and close on March 9, 2026. After the issue, total outstanding shares will rise from 12.91 crore to 21.95 crore.
Shareholders will need to decide whether to put in money for their rights entitlement or let it lapse. The large 70% increase in share count will dilute existing shareholders, and the stock price may adjust downward once the rights trade ex-rights. Eligible shareholders with fewer than 10 shares will not receive any entitlement.