Description

Trading in Rights Entitlements (REs) for renunciation of NACL Industries Limited permitted from December 22-24, 2025. Rights Issue open December 22-30, 2025.

Summary

BSE has announced that Rights Entitlements (REs) for renunciation of NACL Industries Limited will be available for trading from December 22-24, 2025. The Rights Issue opens on December 22, 2025 and closes on December 30, 2025. REs will be tradable in dematerialized form only on a T+1 rolling settlement basis with trade-for-trade settlement.

Key Points

  • Rights Entitlements trading permitted for NACL Industries Limited
  • Renunciation trading period: December 22-24, 2025 (3 days)
  • Rights Issue open period: December 22-30, 2025
  • Scrip Code: 751067, Scrip ID: NACL-RE, ISIN: INE295D20012
  • Market Lot: 1, Group: R
  • Settlement basis: T+1 Rolling Settlement
  • Trading basis: Trade-for-trade
  • REs tradable in demat form only
  • Unsubscribed and unrenounced REs will lapse after Issue Closing Date

Regulatory Changes

No new regulatory changes introduced. This circular follows existing framework for Rights Entitlements trading as per notices 20200305-21 (March 05, 2020) and 20200518-34 (May 18, 2020).

Compliance Requirements

  • Trading Members must:
    • Inform all clients about commencement of RE trading
    • Communicate the ISIN of the RE (INE295D20012)
    • Ensure clients do not mistake REs for ordinary shares
    • Include prominent disclaimer in contract notes/bills for RE purchases
    • Disclaimer must inform clients that REs only provide right to participate in Rights Issue by making application with requisite money or renounce before issue closes
    • Warn clients that unsubscribed/unrenounced REs will lapse and be extinguished after Issue Closing Date

Important Dates

  • December 22, 2025: Renunciation trading begins; Rights Issue opens
  • December 24, 2025: Renunciation trading ends
  • December 30, 2025: Rights Issue closes
  • After December 30, 2025: Unsubscribed/unrenounced REs will lapse and be extinguished

Impact Assessment

Market Impact: Medium - provides liquidity window for shareholders who wish to renounce their rights entitlements rather than subscribe to the issue.

Operational Impact: Trading members must ensure proper client communication and include mandatory disclaimers in contract notes. The 3-day renunciation window is relatively short, requiring prompt action from shareholders.

Investor Impact: Shareholders of NACL Industries have options to: (1) subscribe to the rights issue, (2) renounce and trade their REs during December 22-24, or (3) allow REs to lapse. Critical to note that unexercised REs become worthless after December 30, 2025.

Impact Justification

Medium importance as it affects shareholders of NACL Industries and provides a limited 3-day window for renunciation trading. Impact is medium as it relates to capital raising activity for a specific company.