Darshan Orna Limited , a company listed on the BSE, has announced a significant rights issue aimed at raising up to ₹1,500.88 crore. The company's Board of Directors has approved the issuance of up to 5,00,29,335 fully paid-up equity shares, priced at ₹3 per share. This move comes after receiving in-principle approval from BSE Limited on September 19, 2025.

Key Details of the Rights Issue

The rights issue follows a 1:1 ratio, meaning eligible shareholders will have the right to subscribe to one new share for every existing share held. Here are the important dates and details:

Impact on Share Structure

Upon full subscription of the rights issue, Darshan Orna Limited's outstanding equity shares will double from the current 5,00,29,335 to 10,00,58,670 shares, each with a face value of ₹2.

Additional Information

• The company has set November 12, 2025, as the last date for credit of Rights Entitlements.
• The last date for on-market renunciation of Rights Entitlements is November 17, 2025.
• The Board and/or Rights Issue Committee reserves the right to extend the issue closing date, with the total issue period not exceeding 30 days from the opening date.
• The International Securities Identification Number (ISIN) for credit of dematerialized Rights Entitlement is INE671T20010.

Investors and shareholders are advised to refer to the Letter of Offer for comprehensive details about the rights issue, including the application procedure and terms of the issue.

This rights issue represents a significant corporate action for Darshan Orna Limited, potentially impacting its capital structure and providing existing shareholders with an opportunity to increase their stake in the company. As always, investors should conduct their own research and consider their financial objectives before making investment decisions.

Darshan Orna Limited has received in-principle approval from the Bombay Stock Exchange (BSE) to proceed with a rights issue of fully paid-up equity shares. The approval, granted on September 19, 2025, marks a significant milestone for the company in its capital raising efforts.

Approval Details

The BSE conveyed its approval through letter number LOD/RIGHT/VK/FIP/922/2025-26, responding to Darshan Orna's application submitted on March 07, 2025. This approval not only allows the company to move forward with the rights issue but also grants in-principle approval for listing the equity shares to be issued, subject to the completion of post-issue requirements and statutory formalities.

Key Requirements and Next Steps

As part of the approval process, the BSE has outlined several important requirements for Darshan Orna Limited:

1. Record Date: The company must fix a record date for the rights issue, providing at least three working days' advance notice to the exchange.

2. Rights Issue Price Disclosure: Darshan Orna is required to disclose the rights issue price of the equity shares at least three working days prior to the record date.

3. Compliance and Documentation: The company must comply with all legal and statutory formalities before finalizing its offer documents. This includes the responsibility for all disclosures made in or omitted from the offer documents.

4. Listing Approval: The in-principle approval for listing the new equity shares is subject to Darshan Orna completing post-issue requirements and complying with necessary statutory, legal, and listing formalities.

Additional Procedural Requirements

The BSE has also mandated specific procedural requirements for Darshan Orna Limited:

• Submission of ten printed copies of the Letter of Offer and Composite Application Form to the exchange.
• Confirmation of the completion of posting the letter of offer and composite application form to shareholders.
• Ensuring agreements are in place with all depositories for dematerialization of securities.
• Obtaining approval for the Basis of Allotment from the Designated Stock Exchange, even in cases of under-subscription.
• Appointing a qualified Company Secretary as the Compliance Officer, as per SEBI regulations.

Implications for Investors

This development opens up a potential investment opportunity for existing shareholders of Darshan Orna Limited. The rights issue, once finalized, will allow eligible shareholders to subscribe to additional shares, potentially at a favorable price.

Ritesh Mahendrabhai Sheth, Director of Darshan Orna Limited, confirmed the receipt of the in-principle approval in a communication to the BSE, emphasizing the company's commitment to keeping shareholders informed of this significant development.

As Darshan Orna Limited progresses with its rights issue plans, investors and market watchers will be keenly awaiting further details, including the rights issue price and the record date, which are crucial for making informed investment decisions.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with financial advisors before making investment decisions.