Outcome of the Meeting of the Board of Directors of Tirupati Tyres Limited held today i.e. Thursday, 10th April, 2025 in accordance with the provisions of the Securities and Exchange Board ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Tirupati Tyres Limited, at its meeting on April 10, 2025, finalised the terms of a rights issue that was first approved on April 7, 2025. The company will issue 4,88,87,000 fully paid-up equity shares of Rs. 10 each, raising up to about Rs. 48.87 crore at par (no premium). Existing shareholders will get 2 new shares for every 1 share held as on the record date of Thursday, April 17, 2025. The rights issue opens on April 25, 2025 and closes on May 19, 2025, with renunciation allowed until May 13, 2025. If fully subscribed, the company's total outstanding equity shares will double from 2,44,43,500 to 4,88,87,000. The entire Rs. 10 per share is payable on application, with no premium or deferred calls.
Eligible shareholders must hold shares by April 17, 2025 to receive the rights entitlement and can subscribe at face value to maintain their stake. Doubling the share count could weigh on the stock price once new shares are allotted, though the issue is being raised entirely at par, so no value leakage through discount.