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Awaiting price reaction for this filing.
Suraj Industries Ltd has filed the Draft Letter of Offer for a proposed Rights Issue of partly paid-up equity shares, approved by the Board on September 16, 2025. The issue aims to raise up to Rs. 120 crore (Rs. 12,000 lakh) from eligible shareholders. The face value of the shares is Rs. 10 each, but the final issue price, premium amount, and entitlement ratio are yet to be determined and marked as [●] in the draft document. The Record Date for determining eligible shareholders is also yet to be notified. The issue will be partly paid-up, with payment split between application and one or more subsequent calls as decided by the Board. IDBI Bank is the banker to the issue, BEETAL Financial is the registrar, and Acuite Ratings is the monitoring agency.
For existing shareholders, this Rights Issue will provide an opportunity to increase their stake in the company by subscribing to additional shares, though it also dilutes holdings for those who do not participate. Investors should wait for the final issue price, entitlement ratio, and record date to assess the attractiveness and decide whether to subscribe. The stock may see some volatility around key dates once they are announced.