We wish to inform you that Board of Directors in their meeting held on 28/08/2025 has interalia considered and approved the Price, RE ratio, record date and other terms of Rights issue ....
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Awaiting price reaction for this filing.
Starlineps Enterprises Ltd has approved a Rights Issue of up to 10.37 crore fully paid-up equity shares at ₹2 per share (face value ₹1, premium ₹1), raising approximately ₹20.75 crore. The entitlement ratio is 2 shares for every 5 shares held by eligible shareholders as on the record date of 8th September 2025. The issue opens on 15th September 2025 and closes on 23rd September 2025. Post-issue, outstanding shares would rise from 25.94 crore to 36.31 crore assuming full subscription. The full issue price is payable on application, and shareholders may renounce their rights until 22nd September 2025.
Eligible shareholders will need to decide whether to subscribe to the rights entitlement or let it lapse. The large increase in share count (~40% dilution on full subscription) and the low issue price suggest the company is raising capital, which may put short-term pressure on the stock price as the ex-rights date approaches.