EFC (I) Limited Fixes May 7 Record Date for ₹159.94 Crore Rights Issue
EFC (I) Limited has finalized terms for its ₹159.94 crore rights issue following regulatory approvals from BSE and NSE. The company will issue 1,06,62,786 equity shares at ₹150 per share in 8:103 ratio to existing shareholders, with May 7, 2026 as record date and issue period from May 13-22, 2026.
*this image is generated using AI for illustrative purposes only.
EFC (I) Limited has announced the outcome of its Board of Directors meeting held on May 1, 2026, where the company approved detailed terms for its proposed rights issue. The announcement follows in-principle approvals received from BSE Limited and National Stock Exchange of India Limited through their letters dated April 27, 2026, for the rights issue that was initially approved by the board on April 3, 2026.
Rights Issue Structure and Pricing
The board has approved the issuance of 1,06,62,786 fully paid-up equity shares with a face value of ₹2 each, aggregating to ₹159,94,17,900. The rights issue price has been fixed at ₹150 per fully paid-up share, which includes a premium of ₹148 per share. The rights equity shares are being offered to eligible equity shareholders in the ratio of 8 rights equity shares for every 103 fully paid-up equity shares held on the record date.
| Parameter: | Details |
|---|---|
| Instrument: | Fully paid-up Equity Shares of ₹2 each |
| Total Rights Equity Shares: | 1,06,62,786 shares |
| Issue Size: | ₹159,94,17,900 |
| Rights Issue Price: | ₹150 per share (including premium of ₹148) |
| Rights Entitlement Ratio: | 8:103 |
| ISIN for Rights Entitlement: | INE886D20018 |
Record Date and Share Capital Impact
The company has fixed Thursday, May 7, 2026, as the record date for determining eligible equity shareholders entitled to apply for the rights equity shares. Prior to the rights issue, the company has 13,72,83,376 outstanding equity shares, which will increase to 14,79,46,162 shares post-issue, assuming full subscription.
Rights Issue Timeline
The board has established a comprehensive timeline for the rights issue process, with the issue opening on May 13, 2026, and closing on May 22, 2026. The board retains the right to extend the issue period by up to 30 days from the issue opening date.
| Event: | Date |
|---|---|
| Record Date: | Thursday, May 7, 2026 |
| Last Date for Credit of Rights Entitlements: | Friday, May 8, 2026 |
| Issue Opening Date: | Wednesday, May 13, 2026 |
| Last Date for on Market Renunciation: | Monday, May 18, 2026 |
| Issue Closing Date: | Friday, May 22, 2026 |
Regulatory Compliance and Documentation
The Board of Directors has adopted and approved the Letter of Offer and other issue-related materials to be filed with BSE Limited, National Stock Exchange of India Limited, and the Securities and Exchange Board of India. These documents will be dispatched to eligible equity shareholders as on the record date in due course, in compliance with applicable laws and regulations. The board meeting commenced at 11:00 AM IST and concluded at 11:30 AM IST, with Company Secretary Aman Gupta signing the regulatory intimation.
Historical Stock Returns for EFC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.34% | -1.80% | +6.75% | -33.95% | -43.37% | -43.37% |
How will EFC (I) Limited utilize the ₹159.94 crore raised through this rights issue for its business expansion or debt reduction plans?
What impact might the 7.8% increase in share count have on EFC's earnings per share and dividend policy going forward?
Will the rights issue pricing at ₹150 per share affect EFC's stock performance if the market price trades below this level during the issue period?
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