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Awaiting price reaction for this filing.
The Board of Sunshield Chemicals, at its meeting on 31 July 2025, approved a fresh Rights Issue to raise up to Rs. 150 crores by issuing equity shares to eligible shareholders. This fresh approval supersedes the earlier Rights Issue approval granted on 9 August 2024, and the company has withdrawn the Draft Letter of Offer that was filed with SEBI on 30 September 2024. The Board clarified that this is not an additional or new offer, only a re-approval of the rights issue under the current SEBI ICDR Regulations, 2018. A Rights Issue Committee has been authorised to decide the issue price, entitlement ratio, record date, and other terms. The record date and other key details are yet to be finalised.
Eligible shareholders will get an opportunity to subscribe to additional shares, but the exact terms (price, ratio, discount) are still pending. Dilution for non-participating shareholders is likely once the issue price and entitlement ratio are announced.