The Board of Director at its meeting held on Thursday, 26 March, 2026 to consider and approve the Draft letter of offer to be filed with BSE Limited for their prior Approval for issue of ....
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The Board of Directors of Vivid Mercantile Ltd, at its meeting on March 26, 2026, approved a Draft Letter of Offer for a Rights Issue of equity shares. The company proposes to issue up to 5,01,28,200 fully paid-up equity shares of face value ₹1 each at an issue price of ₹5 per share (including a premium of ₹4 per share), aggregating up to ₹25.06 crores. The rights entitlement ratio is 1 equity share for every 2 shares held by eligible shareholders on the record date, which is yet to be announced. Post-issue outstanding shares will increase to 15,03,84,600 from the current 10,02,56,400, assuming full subscription. The Draft Letter of Offer will be filed with BSE for prior approval and with SEBI for information.
Eligible shareholders will get the right to subscribe to additional shares in proportion to their existing holdings, though the issue price of ₹5 is at a significant premium over the face value. The dilution post-issue will be around 33% assuming full subscription, which may weigh on the stock price in the short term until the purpose of the fund raise and post-issue plans are communicated.