Maha Rashtra Apex Corporation Set to Launch Rights Issue

Maha Rashtra Apex Corporation to Launch First Rights Issue, Offering Up to ₹14.09 Crore Worth of Shares

Maha Rashtra Apex Corporation, a small-cap stock, is set to launch its first rights issue, allowing eligible shareholders to subscribe to additional shares. This move will provide the company with a much-needed capital boost of ₹14.09 crore, which will be used to reduce other current financial liabilities, repay advances, and cover general corporate purposes.

The rights issue will open on April 2 and close on April 30, with April 29 marked as the last date of market renunciation. The deemed date of allotment is May 4, 2026, following which the equity shares are expected to be credited to demat accounts on May 5, 2026, and listed at the NSE and the BSE on May 6, 2026.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

The rights issue price is at a discount of almost 80% as against the last closing price of ₹49.80 on the BSE on Monday, March 30. The full amount of the issue price, being ₹10 per share, will be payable on application.

Maha Rashtra Apex Corporation plans to use the funds raised from the rights issue to reduce other current financial liabilities by repaying part of its advances, deposit any balance dues under the Scheme of Compromise & Arrangement, and cover general corporate purposes. Following the completion of the rights issue, the outstanding shares of Maha Rashtra Apex Corporation will rise to 2.81 crore from 1.40 crore.

The company's share price trend has been on the decline, with a loss of 11% in a year and 13% year-to-date (YTD). However, on a longer time frame of five years, the small-cap stock has gained 37%, and on a 10-year basis, it has delivered multibagger gains of 559%.