Description
BSE announces commencement of trading in Rights Entitlements (REs) for renunciation of Galaxy Agrico Exports Limited from February 02 to February 05, 2026.
Summary
BSE has announced that trading in Rights Entitlements (REs) for renunciation of Galaxy Agrico Exports Limited will commence on Monday, February 02, 2026 and continue until Thursday, February 05, 2026. The Rights Issue itself will be open from February 02, 2026 to February 11, 2026. Trading members must inform clients that REs are tradable only in dematerialized form on T+1 rolling settlement basis with trade-for-trade settlement.
Key Points
- Rights Entitlements trading permitted from February 02-05, 2026
- Rights Issue open period: February 02-11, 2026
- Scrip Code: 751077, Scrip ID: GALAGEX-RE
- ISIN: INE803L20016, Market Lot: 1, Group: R
- Settlement on T+1 rolling settlement basis, trade-for-trade
- REs tradable only in dematerialized form
- Contract notes must include disclaimer about nature of REs
- 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 previous notices (20200305-21 dated March 05, 2020 and 20200518-34 dated May 18, 2020).
Compliance Requirements
- Trading members must inform all clients about commencement of RE trading
- Must provide ISIN of the RE (INE803L20016) to clients
- Must include prominent disclaimer in contract notes/bills containing RE purchases
- Disclaimer must inform clients that:
- Purchase of REs gives right to participate in Rights Issue by making application with requisite money OR renounce REs before issue closes
- REs are not ordinary shares of the company
- Unsubscribed/unrenounced REs will lapse after Issue Closing Date
- Trading members must refer to previous notices for additional details
Important Dates
- January 30, 2026: Circular notice date
- February 02, 2026: RE trading commences; Rights Issue opens
- February 05, 2026: RE trading for renunciation closes
- February 11, 2026: Rights Issue closes
- REs lapse and extinguish after February 11, 2026 if not subscribed or renounced
Impact Assessment
Market Impact: Limited to shareholders of Galaxy Agrico Exports Limited. The 4-day trading window for renunciation provides liquidity for shareholders who do not wish to participate in the rights issue.
Operational Impact: Trading members handling Galaxy Agrico Exports clients must ensure proper systems for RE trading, client communication, and disclaimer inclusion in contract notes. T+1 settlement and trade-for-trade basis requires appropriate operational readiness.
Investor Impact: Existing shareholders have flexibility to either subscribe to rights issue, renounce their entitlements through market trading, or let them lapse. Critical that investors understand the distinction between REs and ordinary shares to avoid confusion.
Impact Justification
Medium importance as it affects specific shareholders of Galaxy Agrico Exports Limited who wish to trade their rights entitlements during a short 4-day window before the rights issue.