1. Issuance of fully paid-up Equity Shares of the Company, by way of a rights issue (the 'Rights Issue), in accordance with the Companies Act, 2013 as amended and the rules made thereunder, ....
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The Board of Directors of Vivid Mercantile Ltd, at a meeting held on April 4, 2025, approved a Rights Issue of fully paid-up equity shares with a face value of Rs. 1 each, for an aggregate amount of up to Rs. 49 Crores. The issue will be offered to existing shareholders in accordance with the Companies Act, 2013 and SEBI ICDR Regulations. Final details such as issue size, entitlement ratio, issue price, record date, and timing of the rights issue are yet to be decided and will be communicated later. The company is registered in Ahmedabad and listed on BSE under script code 542046.
Existing shareholders will get an opportunity to subscribe to additional equity shares in proportion to their current holdings, which may dilute their stake if they do not participate. The Rs. 49 Crore fundraise could strengthen the company's capital base, but the lack of clarity on issue price and purpose means the stock may see some short-term volatility until further details are disclosed.