PFA copy of newspaper advertisement - Rights issue
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Starlineps Enterprises Ltd has submitted a newspaper advertisement to BSE clarifying that the 90% minimum subscription requirement is not applicable to its ongoing Rights issue of fully paid-up equity shares. The clarification was made pursuant to SEBI's letter dated September 29, 2025, and Regulation 86 of the SEBI ICDR Regulations, 2018. The company had earlier inadvertently mentioned in the Letter of Offer (dated August 28, 2025) that minimum subscription would apply, which has now been corrected. The advertisement was published on October 3, 2025 in Financial Express (English), Jansatta (Hindi), and Financial Express (regional language). The unsubscribed portion of the issue will be dealt with under Section 62(1)(a)(ii) of the Companies Act, 2013.
This clarification removes the 90% minimum subscription hurdle for the Rights issue, making it easier for the company to complete the fundraising even if not all shares are subscribed. Existing shareholders who were concerned about the issue failing under the minimum subscription rule now have clarity that the issue will proceed regardless of subscription levels.