Description

BSE announces trading of Rights Entitlements (REs) for Tilak Ventures Limited with renunciation period from December 24, 2025 to January 02, 2026.

Summary

BSE has announced the commencement of trading in Rights Entitlements (REs) for renunciation of Tilak Ventures Limited starting December 24, 2025. The REs will be tradable on the exchange for renunciation purposes during a specific window, with the Rights Issue opening simultaneously on December 24, 2025 and closing on January 09, 2026.

Key Points

  • Rights Entitlements trading permitted from Wednesday, December 24, 2025 to Friday, January 02, 2026
  • Rights Issue open period: December 24, 2025 to January 09, 2026
  • Scrip Code: 751068, Scrip ID: TILAK-RE2, ISIN: INE026L20048
  • Market Lot: 1, Group: R
  • Settlement on T+1 Rolling Settlement basis
  • Trade-for-trade settlement
  • REs tradable in dematerialized form only
  • Trading members must inform clients about RE trading and include mandatory disclaimers in contract notes
  • Un-renounced and un-subscribed REs will lapse after the Issue Closing Date

Regulatory Changes

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

Compliance Requirements

For Trading Members:

  • Inform all clients about commencement of REs trading with ISIN details
  • Clarify that REs are not ordinary shares of the company
  • Include prominent disclaimer in contract notes/bills for RE purchases stating:
    • Purchase of REs only grants right to participate in Rights Issue by making application with requisite money OR renounce REs before issue closes
    • Un-subscribed and un-renounced REs will lapse and be extinguished after Issue Closing Date
  • Refer to notice nos. 20200305-21 and 20200518-34 for additional guidelines

Important Dates

  • December 19, 2025: Notice date
  • December 24, 2025: Rights Entitlements trading begins; Rights Issue opens
  • January 02, 2026: Last date for REs renunciation trading
  • January 09, 2026: Rights Issue closing date; deadline for subscription or renunciation

Impact Assessment

Impact on Shareholders: Existing shareholders of Tilak Ventures Limited receive rights entitlements that can be either exercised (by subscribing to the rights issue with payment) or renounced (sold in the market) during the specified trading window. Un-actioned REs will become worthless after January 09, 2026.

Market Impact: Limited to shareholders and investors interested in Tilak Ventures Limited. The T+1 settlement and trade-for-trade mechanism ensures proper tracking of RE transfers. Demat-only trading reduces operational risks and ensures proper record-keeping.

Operational Impact: Trading members must update systems to handle RE trading, ensure proper client communication, and modify contract note templates to include mandatory disclaimers.

Impact Justification

Standard rights issue notification affecting existing shareholders of Tilak Ventures Limited with specific trading and settlement requirements.