As per attached outcome of Board Meeting
Price
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Awaiting price reaction for this filing.
Pulsar International Ltd's board, at its meeting on 16th December 2025, approved a Rights Issue of up to 35,69,50,000 equity shares of Re. 1 face value each, at an issue price of Re. 1 per share — aggregating up to about Rs. 35.7 crore. Existing shareholders will get 5 rights shares for every 1 share they already hold, with the record date fixed for Monday, 22nd December 2025. The issue is priced at par (face value), so the company receives no premium. If fully subscribed, the company's outstanding equity will expand sharply from about 7.14 crore shares to about 42.83 crore shares — roughly a 6-times increase in share count.
Very heavy dilution for existing shareholders — roughly 6x jump in the share count at par value pricing, which means shareholders must put in fresh money to maintain their stake and the stock is likely to come under pressure around the ex-rights date. Since the issue is at face value (no premium), no extra value accrues to the company beyond the Rs. 35.7 crore being raised.