Description

Mangalam Industrial Finance Limited extends the closure date of its rights issue from November 19, 2025 to November 25, 2025 to provide shareholders additional time to exercise their rights.

Summary

Mangalam Industrial Finance Limited (Scrip Code: 537800) has extended the closure date of its rights issue from Wednesday, November 19, 2025 to Tuesday, November 25, 2025. This decision was approved by the Board of Directors in their meeting held on November 18, 2025. The extension provides shareholders additional opportunity to exercise their rights in the ongoing issue of up to 48,08,21,750 equity shares at Re. 1.00 per share.

Key Points

  • Rights issue closure date extended 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 face value)
  • Total issue size: Up to Rs. 48,08,21,750
  • Rights ratio: 1 equity share for every 2 fully paid-up equity shares held
  • Record date: September 23, 2025
  • Issue opening date: October 27, 2025 (unchanged)
  • Extension rationale: To provide shareholders additional opportunity to exercise their rights

Regulatory Changes

No regulatory changes. This is a procedural extension of an ongoing corporate action.

Compliance Requirements

  • Board resolution passed on November 18, 2025 approving the extension
  • Disclosure made pursuant to Regulation 30 and Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Information to be made available on company website at www.miflindia.com

Important Dates

Original Schedule

  • Last date for credit of Rights entitlements: Friday, October 24, 2025
  • Issue Opening Date: Monday, October 27, 2025
  • Last date for Market Renunciation: Monday, November 10, 2025
  • Original Issue Closing Date: Wednesday, November 19, 2025

Revised Schedule

  • Last date for credit of Rights entitlements: Friday, October 24, 2025 (unchanged)
  • Issue Opening Date: Monday, October 27, 2025 (unchanged)
  • Last date for Market Renunciation: Monday, November 10, 2025 (unchanged)
  • Revised Issue Closing Date: Tuesday, November 25, 2025 (extended by 6 days)
  • 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)

Board Meeting Details

  • Meeting date: November 18, 2025
  • Meeting time: 18:30 PM to 19:00 PM (IST)

Impact Assessment

Market Impact

  • Shareholders: Existing shareholders get 6 additional calendar days to exercise their rights, increasing participation opportunity
  • Trading: Market renunciation period already closed on November 10, 2025, so extension only affects direct subscription
  • Listing timeline: Expected listing date moves from early December to December 9, 2025

Operational Impact

  • Company: Delayed fundraising completion and capital availability
  • Registrars: Extended processing timeline for applications and allotment
  • Investors: More time for decision-making and fund arrangement

Financial Impact

  • Issue at face value (Re. 1.00) indicates dilutive nature for existing operations
  • Total potential fundraise of Rs. 48.08 crores if fully subscribed
  • Extension suggests potential need to improve subscription levels

Impact Justification

Extension of rights issue closure provides existing shareholders additional time to participate. Medium impact as it affects subscription timeline but does not change fundamental terms of the issue.