The Board of Directors of S. M. Gold Limited at its meeting held on today i.e. Tuesday, February 17, 2026, at the Company's Registered Office has inter-alia considered and approved along ....
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S. M. Gold Ltd's Board of Directors, at a meeting on February 17, 2026, approved the Draft Letter of Offer for a Rights Issue of fully paid-up equity shares. The company proposes to issue up to 2,64,75,024 equity shares of ₹10 face value each, aggregating up to ₹26.48 crores, at an issue price of ₹10 per share (at par). The rights entitlement ratio is 2 shares for every 1 share held by existing equity shareholders. Post-issue, the total outstanding equity shares would increase from 1.32 crore to 3.97 crore shares assuming full subscription. The record date will be announced in due course, and the Draft Letter of Offer will be filed with BSE for prior approval.
Existing shareholders will have the opportunity (but not obligation, as they can renounce) to subscribe to additional shares at ₹10 per share. Since the issue is at par (no premium), there is no immediate dilution penalty, but the share count will triple if fully subscribed, which could impact earnings per share going forward.