Shraddha Prime Projects Ltd has announced a rights issue of Rs 96.96 crore, offering 60.6 lakh shares to existing investors. Priced at Rs 160 per share, the issue allows shareholders to subscribe for 3 new shares for every 20 held as of the October 15, 2026, record date. The funds will be utilized for working capital and project development.
Shraddha Prime Projects Announces Rs 96.96 Crore Rights Issue
Rights Issue Size: Rs 96.96 crore
Issue Price: Rs 160 per share (Rs 10 face value + Rs 150 premium)
Reader Takeaway: The rights issue aims to bolster working capital; investors should account for the split-payment structure on shares.
What just happened
Shraddha Prime Projects Ltd has officially announced a rights issue to raise Rs 96.96 crore through the issuance of 60,60,150 equity shares. The company has fixed an entitlement ratio of 3 rights shares for every 20 equity shares held by eligible shareholders as of the record date of October 15, 2026.
Why this matters
The capital infusion is designed to provide Shraddha Prime Projects with enhanced financial flexibility. Managing Director Sudhir Balu Mehta highlighted that the proceeds will support working capital needs, ensure liquidity for current projects, and help the firm scale its operational pipeline.
Payment Structure
The issue price of Rs 160 per share is payable in a staggered manner:
- On Application: Rs 144 per share
- Subsequent Call: Rs 16 per share (timing to be determined by the company)
Risks to watch
Investors should be aware that the final execution of the rights issue remains subject to statutory and regulatory approvals. The ultimate terms will be detailed in the final Letter of Offer, which shareholders are advised to review closely before participating.
What to track next
Shareholders should keep a close watch on further disclosures regarding the Letter of Offer and the specific timeline for the subsequent call payment of Rs 16 per share.