The Board of Directors has approved the Draft Letter of Offer for the Rights Issue.
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The Board of Veerkrupa Jewellers approved the Draft Letter of Offer for a Rights Issue on May 06, 2025. The company plans to issue up to 13.10 crore fully paid-up equity shares of ₹1 face value each, for a total size of up to ₹1310.52 Lakhs (around ₹13.1 crore). The issue price is set at ₹1 per share (at face value, with no premium), and the rights entitlement ratio is 1:1, meaning shareholders get one rights share for every share they hold. Assuming full subscription, the total share count will double from 13.10 crore to 26.21 crore shares. The record date will be announced later. Separately, Nehaben Chiragbhai Shah, the wife of Managing Director Chirag Shah and herself a Promoter/Whole-Time Director, was appointed as Internal Auditor for three years from FY26 to FY28.
A 1:1 rights issue at face value will significantly dilute existing shareholders by doubling the share base, though it allows them to maintain their proportional holding by subscribing. The related-party appointment of the MD's wife as Internal Auditor may raise corporate governance concerns among investors.