Description

Mangalam Industrial Finance Limited has extended the closing date of its rights issue from November 19, 2025 to November 25, 2025 to provide shareholders additional opportunity to exercise their rights.

Summary

Mangalam Industrial Finance Limited (MANGIND, Scrip Code: 537800) has announced an extension of its ongoing rights issue closing date. The Board of Directors, in their meeting held on November 18, 2025, approved extending the issue closure from November 19, 2025 to November 25, 2025. This extension provides existing shareholders additional time to exercise their rights to subscribe to up to 48,08,21,750 equity shares at Re. 1.00 per share, in the ratio of 1:2 (one rights equity share for every two fully paid-up equity shares held as on the record date of September 23, 2025).

Key Points

  • Rights issue closing date extended by 6 days from November 19, 2025 to November 25, 2025
  • Issue size: Up to 48,08,21,750 equity shares of face value Re. 1.00 each
  • Issue price: Re. 1.00 per equity share (at par with face value)
  • Total amount: Up to Rs. 48,08,21,750
  • Entitlement ratio: 1 rights equity share for every 2 fully paid-up equity shares held
  • Record date: September 23, 2025
  • Extension granted to provide shareholders additional opportunity to exercise their rights
  • Board meeting held on November 18, 2025, commenced at 18:30 PM IST and concluded at 19:00 PM IST

Regulatory Changes

No regulatory changes introduced. This is a procedural extension of an existing rights issue timeline in accordance with Regulation 30 and Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Compliance Requirements

  • Shareholders who wish to subscribe to the rights issue must submit their applications by the revised closing date of November 25, 2025
  • The company has disclosed this extension pursuant to Regulation 30 of SEBI LODR
  • Information available on company website at www.miflindia.com

Important Dates

Revised Issue Schedule:

  • Last date for credit of Rights entitlements: Friday, October 24, 2025
  • Issue Opening Date: Monday, October 27, 2025
  • Last date on Market Renunciation of Rights Entitlements: Monday, November 10, 2025
  • Issue Closing Date (Extended): Tuesday, November 25, 2025 (previously November 19, 2025)
  • Finalization of basis of allotment: Friday, November 28, 2025 (on or about)
  • Date of allotment: Friday, November 28, 2025 (on or about)
  • Date of credit: Thursday, December 4, 2025 (on or about)
  • Date of listing/trading: Tuesday, December 9, 2025 (on or about)

Impact Assessment

Market Impact: Low to medium. The extension provides existing shareholders additional time to participate in the rights issue, potentially improving subscription rates. The six-day extension suggests the company wants to maximize shareholder participation.

Shareholder Impact: Positive for shareholders who need additional time to arrange funds or make investment decisions. Those who have already subscribed are unaffected. The extension delays allotment and listing by approximately 6 days.

Operational Impact: The revised timeline pushes the finalization of basis of allotment, actual allotment, credit, and listing dates forward by approximately one week. The company’s capital raising timeline is extended but the fundamental terms of the rights issue remain unchanged.

Financial Impact: The rights issue, if fully subscribed, will raise up to Rs. 48.08 crores for the company. The extension may improve subscription rates, benefiting the company’s fundraising objectives.

Impact Justification

Extension of rights issue closing date affects existing shareholders' timeline to exercise rights. Medium impact as it provides additional time but does not change fundamental terms of the offer.