Description

BSE announces trading in Rights Entitlements (REs) for DARSHAN ORNA LIMITED from November 13-17, 2025, with rights issue opening November 13-21, 2025.

Summary

BSE has permitted trading in Rights Entitlements (REs) for renunciation of DARSHAN ORNA LIMITED from November 13-17, 2025. The rights issue will remain open from November 13-21, 2025. Trading will occur on T+1 rolling settlement basis on a trade-for-trade basis, with REs tradable only in dematerialized form.

Key Points

  • Company: DARSHAN ORNA LIMITED
  • Scrip Code: 751055
  • Scrip ID: DARSHA-RE
  • ISIN: INE671T20010
  • Market Lot: 1
  • Group: R
  • Settlement: T+1 Rolling Settlement, trade-for-trade basis
  • REs tradable in dematerialized form only
  • Unsubscribed/unrenounced REs will lapse after issue closing date

Regulatory Changes

No regulatory changes. Standard rights issue procedure as per existing BSE framework referenced in notices dated March 05, 2020 (20200305-21) and May 18, 2020 (20200518-34).

Compliance Requirements

Trading Members must:

  • Inform all clients about commencement of RE trading, mentioning the ISIN (INE671T20010)
  • Clarify that REs should not be mistaken for ordinary shares
  • Include prominent disclaimer in contract notes/bills for RE purchases stating:
    • Purchase of REs only grants right to participate in ongoing rights issue by applying with requisite application money or renounce before issue closes
    • REs neither subscribed nor renounced by issue closing date will lapse and be extinguished
  • Refer to previous notices (20200305-21 and 20200518-34) for additional details

Important Dates

  • November 11, 2025: Notice date
  • November 13, 2025: RE trading commences; Rights issue opens
  • November 13-17, 2025: Trading period for renunciation of REs
  • November 21, 2025: Rights issue closes
  • REs not subscribed/renounced will be extinguished after November 21, 2025

Impact Assessment

Market Impact: Medium - affects shareholders of DARSHAN ORNA LIMITED who hold rights entitlements. Trading window is relatively short (5 days) requiring timely action from investors.

Operational Impact: Medium - trading members must ensure proper client communication, contract note disclaimers, and awareness of T+1 trade-for-trade settlement requirements. Demat-only trading requires proper infrastructure readiness.

Investor Impact: Shareholders must decide within the trading period whether to exercise rights, renounce them for value, or allow them to lapse. Failure to act results in permanent loss of entitlements after November 21, 2025.

Impact Justification

Standard rights issue procedure affecting specific company shareholders with defined trading and subscription timelines