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The Board of Salem Erode Investments Ltd, at its meeting on March 24, 2026, approved a fresh 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, and only changes the issue size rather than introducing a new offering. 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 constituted to decide key terms such as issue price, entitlement ratio, record date, timing, and payment schedule. The issue is subject to approvals under the Companies Act, 2013 and SEBI ICDR Regulations.
Existing shareholders will get the opportunity to subscribe to the rights issue in proportion to their holdings to maintain their stake, but non-participation could lead to dilution. The fresh approval with a revised issue size suggests the company is recalibrating its capital raise plans, and the actual terms (price, ratio) will be key drivers of shareholder decision-making.