Description
Board extends the closing date of Rights Issue (1:2 ratio at Re. 1/- per share) from November 14 to November 19, 2025, and approves Q2 FY2025-26 unaudited financial results.
Summary
Mangalam Industrial Finance Limited (Scrip Code: 537800) announced that its Board of Directors, in a meeting held on November 13, 2025, approved the extension of its ongoing Rights Issue closing date from November 14, 2025 to November 19, 2025. The Rights Issue offers up to 48,08,21,750 equity shares of face value Re. 1/- each at an issue price of Re. 1/- per share (aggregating Rs. 48.08 crores) in the ratio of 1:2 to existing shareholders as on record date September 23, 2025. The Board also approved unaudited financial results for Q2 and H1 FY2025-26.
Key Points
- Rights Issue closing date extended by 5 days from November 14, 2025 to November 19, 2025
- Issue size: Up to 48,08,21,750 equity shares at Re. 1/- per share (at par)
- Rights ratio: 1 equity share for every 2 existing shares held
- Total amount: Up to Rs. 48,08,21,750/-
- Record date: September 23, 2025
- Issue opened: October 27, 2025
- Extension rationale: To provide shareholders additional opportunity to exercise their rights
- Board also approved Q2 FY2025-26 unaudited standalone financial results with limited review report from statutory auditors M/s Mahesh Udhwani & Associates
- Trading window for designated persons closed until November 15, 2025
Regulatory Changes
No regulatory changes introduced. This is a corporate action disclosure under Regulation 30 read with Schedule III, Regulation 33, and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Compliance Requirements
- Existing equity shareholders have extended opportunity until November 19, 2025 to apply for rights entitlements
- Market renunciation of rights entitlements closed on November 10, 2025
- Designated persons subject to trading window closure until November 15, 2025 under the company’s insider trading code and SEBI (Prohibition of Insider Trading) Regulations, 2015
- Company to maintain disclosure on website www.miflindia.com
Important Dates
- Record Date: September 23, 2025
- Rights Entitlements Credit: October 24, 2025
- Issue Opening: October 27, 2025
- Last Date for Market Renunciation: November 10, 2025
- Board Meeting: November 13, 2025 (5:15 PM to 5:45 PM IST)
- Issue Closing (Revised): November 19, 2025 (extended from November 14, 2025)
- Trading Window Closure Ends: November 15, 2025
- Basis of Allotment (Expected): November 24, 2025
- Date of Allotment (Expected): November 24, 2025
- Credit Date (Expected): November 28, 2025
- Listing/Trading (Expected): December 3, 2025
Impact Assessment
Market Impact: Medium - The 5-day extension provides existing shareholders with additional time to participate in the rights issue, potentially increasing subscription rates. The relatively large issue size (Rs. 48.08 crores) at par value indicates significant equity dilution for non-participating shareholders.
Shareholder Impact: Positive for existing shareholders who need additional time to arrange funds or make subscription decisions. Non-participating shareholders will face dilution given the at-par pricing (Re. 1/-).
Operational Impact: The extension shifts all subsequent timelines including allotment (November 24), credit (November 28), and listing (December 3) dates. The simultaneous approval of Q2 results provides current financial performance context for shareholders deciding on rights participation.
Compliance Impact: Trading window restrictions on designated persons remain in effect until November 15, maintaining insider trading safeguards during the material announcement period.
Impact Justification
Rights issue extension affects existing shareholders' subscription timeline. Material disclosure of Q2 results and 5-day extension provides additional opportunity for rights exercise.