Outcome of the Board Meeting dated 14th July 2025, to approve, inter alia, the Rights Issue size, price, ratio, record date and issue dates.
Price
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The Board of Directors of Zodiac Ventures Ltd, at its meeting held on 14th July 2025, approved a Rights Issue of 4,51,08,000 fully paid-up equity shares aggregating to Rs. 28.42 crores. The issue price has been fixed at Rs. 6.30 per share, which includes a premium of Rs. 5.30 over the face value. Eligible shareholders will be entitled to 6 Rights Equity Shares for every 5 shares held as on the record date of Friday, 18th July 2025. The Rights Issue will open on 31st July 2025 and close on 14th August 2025, with the last date for market renunciation being 8th August 2025.
Existing shareholders will need to decide whether to subscribe to their rights entitlement or let it lapse. Since 1.2 new shares are being offered for every share held, the issue is sizeable and will significantly increase the share count, potentially diluting holdings if not subscribed. Shareholders should review their financial position and the issue price versus market price before the record date to make an informed decision.