Approval of issue of fully paid-up Equity Shares of the face value of ?1/- each for an amount aggregating up to ? 5,000 Lakhs to all the eligible equity shareholders of the Company, as ....
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The board of Salem Erode Investments Ltd, at its meeting on April 4, 2025, approved a Rights Issue of fully paid-up equity shares with a face value of ₹1 each for an amount aggregating up to ₹5,000 Lakhs. The issue will be offered to all eligible existing equity shareholders on a rights basis, with the record date to be notified later. A Share Issue Committee has been formed to finalise key terms such as the issue price, rights entitlement ratio, record date, timing, schedule of payment, and any discount that may apply. The company is an investment-oriented entity (NBFC), so the proceeds are likely intended to strengthen its investment portfolio or lending capacity. Final pricing, ratio, and other details will be disclosed once the committee decides.
Existing shareholders will be offered the chance to buy additional shares in proportion to their current holdings, but they will need to invest more money to avoid dilution. Since terms like price and discount are not yet announced, investors should wait for the letter of offer to assess whether subscribing is worthwhile.