Pursuant to the Rights Issue of Equity shares of the Company, please find enclosed documents namely: Letter of Offer, RE Letter, CAF and Application form.
FUNDRAISE
▲ Positive Development
LOW RISK
📅 Filed on BSE: 12 May 2026, 11:42 AM IST · BSE ID: c0023580-8d0b-43bb-a8eb-5d1c0aebe62e
View Original BSE Filing (PDF)
💡
In Simple Terms
The company released official documents for its plan to raise up to ₹1489.66 Lakhs by offering new shares to existing shareholders.
🤖 AI Summary
- Steelco Gujarat submitted offer documents for Rights Issue aggregating up to ₹1489.66 Lakhs.
- Issue comprises 13,30,060 fully paid-up equity shares at ₹112/- per Rights Equity Share.
- Issue price includes a premium of ₹102/- per share.
- Eligible shareholders to receive 5 Rights Equity Shares for every 1 share held as on Record Date.
- Record Date is Friday, 15th May, 2026; Issue Opening Date is Monday, 25th May, 2026.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Rights Issue Aggregate Value
₹1489.66 Lakhs
Number of Rights Equity Shares
13,30,060
Issue Price per Rights Equity Share
₹112/-
Premium per Rights Equity Share
₹102/-
Rights Entitlement Ratio
5 (Five) Rights Equity Shares for every 1 (One) fully paid-up Equity Share
🏢 How This Affects the Company
The fundraise, if fully subscribed, will provide capital for business operations, expansion, or debt reduction, details of which are in the full Letter of Offer.
Upon full subscription, the company's equity base and cash reserves will increase by ₹1489.66 Lakhs, affecting its balance sheet and liquidity.
The successful completion of the Rights Issue will reduce reliance on external debt for funding, potentially improving financial stability.
👥 What This Means For Shareholders
✅
Action Required
Eligible shareholders wishing to participate or renounce their Rights Entitlements must act between the Issue Opening Date of 25th May, 2026 and the Issue Closing Date of 04th June, 2026.
👤
Who Is Affected
Shareholders holding fully paid-up equity shares as of the Record Date (Friday, 15th May, 2026) are eligible to apply for 5 Rights Equity Shares for every 1 share held.
🔍
Management Signal
Management is actively pursuing capital raising through existing shareholder participation to support company operations or growth initiatives.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Rights Entitlement credit date: Monitor for credit of REs by Monday, 18th May, 2026.
Issue subscription status: Track subscription figures after Issue Opening Date (25th May, 2026).
Basis of Allotment finalisation: Check for announcement on or about Friday, 05th June, 2026.
LOW RISK
The filing is a procedural update for an announced capital raise, with no immediate negative operational or financial implications.
💡 Investor Takeaway
Steelco Gujarat submitted Letter of Offer and other documents for its Rights Issue to raise up to ₹1489.66 Lakhs. The issue involves 13,30,060 shares at ₹112/- each, with a Record Date of 15th May, 2026 and opening on 25th May, 2026.
⚖️ Strengths & Concerns
✅ Positives
- The Rights Issue aims to raise up to ₹1489.66 Lakhs, providing capital for business activities.
- The issue price of ₹112/- per share reflects a premium component of ₹102/-, indicating investor interest in the company.
⚠️ Concerns
- The successful aggregation of ₹1489.66 Lakhs is contingent upon full subscription of the Rights Issue.
- Dilution for non-participating eligible shareholders is a factor, as new shares are being issued.
📅 Company Track Record
Steelco Gujarat previously announced on May 9, 2026, the Board's decision to fix May 15, 2026, as the record date for this Rights Issue, aiming to raise up to ₹1,489.66 Lakhs.
Based on publicly available historical data. For context only.