The Board of Directors approved the raising of funds through issue of Right Equity Shares in the board meeting.
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Vivid Mercantile Ltd's board, at a meeting on April 4, 2025, approved raising funds through a rights issue of fully paid-up equity shares (face value Rs. 1 each) to existing shareholders, for an aggregate amount of up to Rs. 49 Crores. The exact number of shares, entitlement ratio, issue price, record date, and timeline have not been disclosed yet and will be communicated in due course. The company will follow the Companies Act, 2013 and SEBI (ICDR) Regulations, 2018 for the issue. No other major business was discussed at the 30-minute meeting.
A rights issue of up to Rs. 49 Crores could lead to dilution for existing shareholders, with the actual impact depending on the eventual entitlement ratio and issue price, which are yet to be announced. Retail investors should wait for further details on pricing and record date to assess whether subscribing makes economic sense.