Gujarat Cotex Limited has successfully concluded its rights issue with the Board of Directors approving the allotment of 8,06,89,241 (Eight Crore Six Lacs Eighty Nine Thousand Two Hundred Forty One) fully paid-up equity shares on May 13, 2026. The shares were allotted at an issue price of ₹5 per equity share, at par with the face value, aggregating up to ₹40,34,46,205. The allotment was made to eligible shareholders and/or renouncee(s) in terms of the Letter of Offer, following finalisation of the basis of allotment in consultation with the Registrar to the Issue and as approved by BSE Limited, the Designated Stock Exchange for the Issue. Subsequently, on May 16, 2026, the company submitted newspaper advertisements publishing the basis of allotment in Financial Express (English), Jansatta (Hindi), and Financial Express (Gujarati), as intimated to BSE Limited.
Rights Issue Details
The rights issue comprised up to 8,54,64,000 fully paid-up equity shares of face value ₹5 each, offered for cash at a price of ₹5 per rights equity share at par, aggregating to ₹4,273.20 lakhs. The issue was offered in the ratio of 6 rights equity shares for every 1 fully paid-up equity share held by eligible equity shareholders on the record date of April 01, 2026. The issue opened on April 10, 2026 and closed on May 08, 2026, with the last date for market renunciation of Rights Entitlements being May 05, 2026. The Board of Directors convened a meeting on May 13, 2026, commencing at 9:30 P.M. IST and concluding at 10:10 P.M. IST, at which the allotment was considered and approved pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Basis of Allotment
Out of the total 1,942 applications for 8,22,66,850 equity shares, 500 applications for 15,77,609 equity shares were rejected on technical grounds as disclosed in the Letter of Offer. The total number of fully valid applications received was 1,442 applications for 8,06,89,241 equity shares. The basis of allotment was finalised on May 13, 2026, in consultation with the Registrar to the Issue and BSE Limited. All valid applications were considered for allotment.
The following table summarises the total applications received and shares allotted across categories:
| Category: |
No. of Valid Applications Received |
Equity Shares Applied For |
Equity Shares Allotted |
| Eligible Equity Shareholders: |
1,062 |
3,80,90,445 |
3,71,37,098 |
| Fraction: |
1 |
4,000 |
0 |
| Renouncers: |
405 |
4,35,56,39 |
4,35,52,143 |
| Not an Eligible Shareholder: |
474 |
6,13,766 |
0 |
| Total: |
1,942 |
8,22,66,850 |
8,06,89,241 |
The detailed category-wise basis of allotment, including shares accepted against rights entitlements and additional applications, is presented below:
| Category: |
Valid Applications Considered |
Shares Allotted Against Rights Entitlements (A) |
Shares Allotted Against Additional Applications (B) |
Total Shares Allotted (A+B) |
| Eligible Equity Shareholders: |
1,043 |
98,68,733 |
2,72,68,364 |
3,71,37,098 |
| Renouncers: |
398 |
63,62,362 |
3,71,89,781 |
4,35,52,143 |
| Fraction: |
1 |
1 |
3,999 |
0 |
| Total: |
1,442 |
1,62,31,095 |
6,44,62,144 |
8,06,89,241 |
Post-Allotment Actions and Listing
Following the finalisation of the basis of allotment, the dispatch of allotment advice cum refund intimation and reason for rejection to investors was completed on May 14, 2026. Instructions to Self Certified Syndicate Banks (SCSBs) for unblocking funds in case of ASBA applications were given on May 13, 2026. The listing application was executed with BSE on May 14, 2026, and listing approval was received on May 14, 2026. The credit of equity shares in dematerialised form to respective demat accounts of allottees was to be completed on or before May 14, 2026. Pursuant to listing and trading approvals granted by BSE, the rights equity shares allotted in the issue were expected to commence trading on BSE on or before May 15, 2026. The request for extinguishment of rights entitlements with NSDL and CDSL was expected to be completed on May 15, 2026.
Impact on Paid-Up Equity Share Capital
The completion of the rights issue allotment has resulted in a significant increase in the company's paid-up equity share capital. The following table summarises the change in capital structure:
| Particulars: |
Pre-Allotment |
Post-Allotment |
| Paid-up Equity Share Capital: |
₹7,12,20,000/- divided into 1,42,44,000 Equity Shares of ₹5/- each |
₹47,46,66,205/- divided into 9,49,33,241 Equity Shares of ₹5/- each |
The allotment was approved by Shaileshkumar Jayantkumar Parekh, Managing Director (DIN: 01246270), on behalf of Gujarat Cotex Limited. The newspaper advertisement submission on May 16, 2026 was signed by Shaileshkumar Jayantkumar Parekh, Managing Director, and the intimation was submitted to BSE Limited in accordance with applicable regulatory requirements. Purva Sharegistry (India) Private Limited served as the Registrar to the Issue, while Ms. Shweta Naresh Kumar Temani served as Company Secretary and Compliance Officer.
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