Intimation of receipt of in-principle approval letter from BSE Ltd. for proposed Rights Issue of the Company
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Awaiting price reaction for this filing.
Zodiac Ventures Ltd (BSE Scrip Code: 503641) has received in-principle approval from BSE Limited for a proposed Rights Issue of equity shares worth up to Rs. 49.75 crore (Forty-Nine Crore Seventy-Five Lakh). The approval letter from BSE is dated April 9, 2025, and the company applied for it on December 12, 2024. This is a procedural milestone — the company now needs to fix a record date, finalize the offer document, and complete post-issue requirements. The issue price and detailed terms (such as ratio or discount) are not mentioned in this filing. Existing shareholders will likely be given the opportunity to subscribe to additional shares in proportion to their current holdings.
For shareholders, this signals that a fresh equity infusion of up to Rs. 49.75 crore is moving closer, which may lead to share dilution if not all shareholders participate. The actual price, ratio, and timing details will determine whether this is value-accretive or dilutive for existing investors. Watch for the record date announcement next.