Description

BSE announces trading of Rights Entitlements (REs) for renunciation of Galaxy Agrico Exports Limited from February 2-5, 2026, with the rights issue opening February 2-11, 2026.

Summary

BSE has announced the commencement of trading in Rights Entitlements (REs) for renunciation of Galaxy Agrico Exports Limited. Trading members can trade REs from February 2-5, 2026, while the underlying rights issue will remain open from February 2-11, 2026. The REs will be traded in dematerialized form only on a T+1 rolling settlement basis with trade-for-trade settlement.

Key Points

  • Rights Entitlements trading permitted for Galaxy Agrico Exports Limited
  • Scrip Code: 751077, Scrip ID: GALAGEX-RE
  • ISIN: INE803L20016
  • Market Lot: 1, Group: R
  • REs tradable in dematerialized form only
  • Settlement on T+1 rolling settlement basis
  • Trade-for-trade settlement applicable
  • REs that are neither subscribed nor renounced before issue closing date will lapse and be extinguished

Regulatory Changes

No regulatory framework changes. This circular implements existing rights issue renunciation trading procedures as established in previous BSE notices (20200305-21 dated March 5, 2020 and 20200518-34 dated May 18, 2020).

Compliance Requirements

  • Trading members must inform all clients about commencement of trading in REs
  • Must specify the ISIN of the RE to clients
  • Must clarify that REs shall not be mistaken for ordinary shares
  • Contract notes/bills containing purchase of REs must include prominent disclaimer informing clients that:
    • Purchase of REs only gives right to participate in ongoing rights issue by making application with requisite money, or to renounce the REs
    • REs neither subscribed nor renounced before issue closing date will lapse and be extinguished
  • Trading members should refer to notice 20200305-21 (March 5, 2020) and notice 20200518-34 (May 18, 2020) for further details

Important Dates

  • January 30, 2026: Notice date
  • February 2, 2026: Rights issue opening date and RE trading commencement
  • February 2-5, 2026: Trading period for renunciation of Rights Entitlements
  • February 11, 2026: Rights issue closing date
  • After February 11, 2026: Unsubscribed/unrenounced REs will lapse and be extinguished

Impact Assessment

Market Impact: Minimal market-wide impact as this is a company-specific rights issue.

Shareholder Impact: Existing shareholders of Galaxy Agrico Exports Limited have the opportunity to either subscribe to the rights issue, renounce their rights entitlements through market trading during the 4-day trading window (Feb 2-5), or let them lapse. The short renunciation window requires prompt decision-making.

Operational Impact: Trading members need to ensure proper client communication, implement disclaimer requirements in contract notes, and facilitate dematerialized trading of REs with T+1 settlement. The trade-for-trade settlement basis eliminates netting, requiring specific attention to settlement obligations.

Impact Justification

Company-specific rights issue affecting only Galaxy Agrico Exports shareholders; limited market-wide impact but important for existing shareholders to understand renunciation trading mechanism