The Board of Directors in their meeting held on today, Tuesday, February 17, 2026 consider and approve , the draft letter of offer in relation to the rights issue of the company.
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S. M. Gold Ltd's board, at its meeting on February 17, 2026, approved the Draft Letter of Offer for a proposed Rights Issue. The company plans to issue up to 2,64,75,024 fully paid-up equity shares of ₹10 each, raising up to ₹26.47 crore. The rights entitlement ratio is 2:1, meaning shareholders can buy 2 new shares for every 1 share held on the record date (yet to be announced). The issue price is set at ₹10 per share, which is the same as face value, implying zero premium. If fully subscribed, the total share count will rise from about 1.32 crore shares to around 3.97 crore shares.
Existing shareholders will see their shareholding more than double in number if they do not participate, leading to significant dilution. The issue being priced at face value (₹10) suggests a steep discount to the prevailing market price, which may pressure the stock price ex-rights. Shareholders will need to decide whether to subscribe, renounce, or let their rights lapse once the record date and letter of offer are released.