Prabha Energy Limited has informed the Exchange regarding Outcome of Committee Meeting held on March 05, 2026.
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Prabha Energy Limited has finalised the terms of its proposed Rights Issue following a committee meeting on March 5, 2026. The company will issue 96,67,258 partly paid-up equity shares (face value ₹1 each) at ₹144 per share, aggregating to approximately ₹139.21 crore assuming full subscription. The ratio is 5 rights shares for every 14 fully paid-up shares held by eligible public shareholders, with a record date fixed for March 11, 2026. Post-issue, the total equity share count will rise to about 14.66 crore shares from the current 13.69 crore. Notably, the promoters and promoter group have decided to forgo their rights entitlement to help the company meet the minimum public shareholding (MPS) requirement.
Existing public shareholders will need to decide whether to subscribe to their rights entitlement at ₹144 per share by the record date of March 11, 2026. The promoter forgoing of entitlement is a positive signal for minority shareholders as it dilutes promoter holding and pushes the company toward MPS compliance, but the ₹139 crore fund raise will expand the equity base.