The Board of Directors at its meeting held on today i.e. Thursday, 26 March, 2026 considered and approved, the Draft Letter of Offer in relation to the Rights Issue of the Company to be ....
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Vivid Mercantile Ltd's board, at its meeting on March 26, 2026, approved the Draft Letter of Offer for a Rights Issue of equity shares. The company plans 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 ₹4 premium), aggregating up to ₹2,506.41 lakhs (~₹25.06 crore). The entitlement ratio is 1 rights share for every 2 shares held by eligible shareholders on the record date, which is yet to be announced. Post-issue, the total outstanding equity shares would increase to 15,03,84,600 assuming full subscription. The Draft Letter of Offer will be filed with BSE for prior approval and with SEBI for information.
Existing shareholders will get the opportunity to subscribe to additional shares in proportion to their current holdings, potentially diluting their stake if they do not participate. The issue price of ₹5 is at a significant premium over the ₹1 face value, though the actual market price discount/premium is not disclosed. Shareholders should watch for the record date announcement to know their entitlement.