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The Board of Directors of Salem Erode Investments Ltd, at its meeting on March 24, 2026, approved a fresh resolution for a Rights Issue of fully paid-up equity shares of face value ₹1 each, for an amount not exceeding ₹2,293.11 Lakhs. This fresh approval supersedes the earlier Rights Issue approval granted on April 04, 2025, due to a change in the issue size. The company clarified that this is not a new or additional offer, but only a re-approval with a revised size. The Rights Issue will be offered to eligible equity shareholders as on a record date to be notified later. A Share Issue Committee has been formed to finalise terms such as issue price, entitlement ratio, record date, and payment schedule.
Existing shareholders may need to contribute additional capital if they wish to maintain their stake, while the revised (lower) issue size reduces dilution compared to the earlier approved plan. The terms, pricing, and ratio are yet to be decided, which will determine the actual impact on share value.