Welspun Specialty Solutions Revises Record Date for Rights Issue

Welspun Specialty Solutions Limited has changed the record date for its upcoming ₹350 crore rights issue from February 27, 2025, to March 1, 2025. The revision has been made in line with SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015 and Issue of Capital and Disclosure Requirements (ICDR) Regulations, 2018.

As of February 25, 10:17 AM, Welspun Specialty Solutions Ltd is trading at ₹40.00, up 0.68% today, but down 9.69% over the past month, while still holding a 7.12% gain over the past year.

Issue Details

The rights issue involves the issuance of 13,25,22,289 equity shares, priced at ₹26.40 per share, which includes a ₹20.40 premium. The rights entitlement ratio is 1 new share for every 4 shares held as of the record date.

Subscription Timeline

The issue will open on March 10, 2025, and close on March 19, 2025. The on-market renunciation window will be available from March 10 to March 13, 2025. For off-market renunciations, shareholders must make sure that rights entitlements are credited to the renouncee’s demat account before the closing date.

Before the rights issue, the company has 53,00,89,156 outstanding shares. If fully subscribed, this will increase to 66,26,11,445 shares.

Eligibility

Only shareholders holding at least 4 shares on the record date will receive rights equity shares. Those with fewer than 4 shares will not get direct entitlement but can still apply for additional shares. 

If such shareholders apply for more shares than their entitlement, they may receive preference in allotment, depending on availability.

Conclusion

The rights issue was originally set to have February 27, 2025, as the record date, but this has now been moved to March 1, 2025. The change ensures regulatory compliance.

Investors should note the updated record date and take necessary action if they wish to participate. The revision does not impact the overall structure of the rights issue but provides a new cutoff for determining eligible shareholders.

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