Gujarat Cotex Limited has announced the approval of a substantial rights issue following its board meeting held on March 24, 2026. The board meeting, which took place at the company's registered office in Silvassa from 1:00 PM to 3:00 PM, resulted in the approval of key terms and conditions for the upcoming rights offering under SEBI regulations.

Rights Issue Details

The board has approved a comprehensive rights issue structure with specific parameters for eligible shareholders:

Issue Timeline and Process

The rights issue follows a structured timeline with specific dates for various phases of the offering:

The company has established the record date as Wednesday, April 1, 2026, to determine shareholders eligible to receive rights entitlements. This provides eligible shareholders with the opportunity to subscribe to additional shares at the specified price of Rs 5 per share.

Formal Record Date Notification

In compliance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Gujarat Cotex Limited has formally notified all relevant depositories and the stock exchange about the record date:

The company has requested Central Depository Services (India) Limited, National Securities Depository Limited, and Purva Shareregistry (India) Private Limited to generate special BENPOS data as on the record date to facilitate the rights issue process.

Regulatory Compliance and Infrastructure

In compliance with SEBI Master Circular dated June 21, 2023, Gujarat Cotex Limited has made necessary arrangements with both NSDL and CDSL for crediting rights entitlements in dematerialized form. The rights entitlements will be credited to eligible shareholders' demat accounts under the ISIN INE004C20010 prior to the issue opening date.

BSE Limited has been designated as the stock exchange for the rights issue, and the company will file the Letter of Offer along with the Rights Entitlement Letter and Application Form with BSE Limited. The board has also approved other terms of the rights issue, including provisions for zero and fractional entitlements, which will be detailed in the Letter of Offer.

Corporate Governance

The board meeting outcome was communicated to BSE Limited under Regulation 30 and 42 of the SEBI (LODR) Regulations, 2015, and SEBI (ICDR) Regulations, 2018. The decision was formally approved and signed by Shaileshkumar Jayantkumar Parekh, Managing Director (DIN: 01246270), ensuring proper corporate governance protocols were followed throughout the approval process.

Gujarat Cotex Limited has announced a board meeting scheduled for March 24, 2026, to deliberate on key aspects of its proposed rights issue. The meeting, convened under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, will be held at the company's registered office in Silvassa.

Meeting Agenda and Key Decisions

The board meeting will address several critical matters related to the rights issue:

The meeting will take place at the company's registered office located at Shop No. 3, Shanti Complex, Opp. Patel Petrol Pump, Amli, Silvassa, Dadra & Nagar Haveli, India – 396230.

Regulatory Compliance and Trading Window

In adherence to SEBI (Prohibition of Insider Trading) Regulations, 2015, and subsequent amendments from 2018, Gujarat Cotex Limited has implemented a trading window closure. The restriction became effective from March 16, 2026, and will remain in place until 48 hours after the board meeting concludes.

This measure aligns with the company's Code of Conduct for Prevention of Insider Trading, ensuring compliance with regulatory requirements during the decision-making process for the rights issue.

Corporate Structure and Leadership

The announcement was signed by Mr. Shaileshkumar Jayantkumar Parekh, Managing Director (DIN: 01246270), on March 16, 2026. The company maintains its corporate office at 2007, Shankar Plaza, Nanpura, Timaliyawad, Surat, Gujarat, while operating from its registered office in Silvassa.

The upcoming board meeting represents a significant step in Gujarat Cotex Limited's capital raising initiative through the proposed rights issue, with shareholders awaiting details on the final terms and conditions.