Esaar (India) rights issue 2026: dates, ratio, price

Record date set for Esaar (India) rights issue

Esaar (India) Limited has fixed Tuesday, August 25, 2026 as the record date for its proposed rights issue of equity shares. The company said the rights issue aggregates up to ₹599.65 crore, and the record date will determine which shareholders are eligible to receive rights entitlements. The terms were approved by the Rights Issue Committee of the Board at a meeting held on August 19, 2026. The company also noted it had received in-principle approval from BSE Limited for the proposed issue.

The rights issue is structured as a par issue with an issue price of ₹10 per share, matching the face value of ₹10 and carrying no premium. Shareholders who hold shares on the record date will be eligible for rights entitlements in a defined ratio, with a set subscription window in September.

Issue size, shares on offer, and headline amount

As per the announced terms, Esaar (India) plans to issue up to 5,99,64,667 fully paid-up equity shares. The company has described the proposed fundraising as aggregating up to ₹599.65 crore. Separately, the issue size is also referenced as ₹59.9647 crore (₹5,996.47 lakh) for 5,99,64,667 shares, assuming full subscription.

What is clear from the company’s disclosures is the number of shares proposed and the issue price of ₹10 per share, with no premium. The offer is designed as a rights issue, meaning it is primarily directed to existing shareholders who can either subscribe to their entitlement or renounce it, subject to the rights issue process.

Entitlement ratio and pricing at par

Eligible shareholders will receive rights entitlements in the ratio of 44 rights equity shares for every 15 fully paid-up equity shares held on the record date. The issue price is fixed at ₹10 per rights equity share. The company has specifically stated the rights issue is priced at par, indicating there is no premium over the face value.

A rights issue priced at face value is typically positioned as a capital-raising route where the company expands its equity base while giving existing shareholders the first right to participate. For shareholders, the key mechanics to track include the record date, entitlement ratio, renunciation windows, and the final allotment and listing schedule.

Subscription window: opening and closing dates

The rights issue opens for subscription on September 2, 2026 and closes on September 11, 2026. During this period, eligible shareholders can apply for the shares under their rights entitlement. The schedule also includes windows for on-market and off-market renunciation, which allows shareholders to transfer or sell their entitlements as permitted under the process.

The company has shared specific cut-off dates for the credit of rights entitlements and for renunciation, followed by basis of allotment, credit of equity shares, and listing.

Key dates investors should track

Equity base expansion: pre and post issue share count

The company has stated that, post-issue, the total equity shares will rise from 2.04 crore to 8.04 crore, assuming full subscription. That indicates a significant increase in the number of outstanding shares, which is an important datapoint for existing shareholders tracking changes to the equity base after the rights issue is completed.

The increase in total shares is consistent with the large number of rights shares proposed under the entitlement ratio. The final post-issue equity base, as stated, depends on full subscription.

Corporate actions and approvals around the issue

The Rights Issue Committee of the Board approved the terms in its August 19, 2026 meeting, following in-principle approval from BSE Limited. In earlier disclosures around the fundraising plan, the company had said the Board approved a proposal to raise funds by issuing equity shares on a rights basis for an amount not exceeding ₹60 crore, and it also approved the Draft Letter of Offer for submission to SEBI and the stock exchanges.

The company also constituted a Rights Issue Committee to oversee the process. The committee composition disclosed is:

In the same set of disclosures, Esaar (India) also stated that it appointed Mr. Dipesh B. Mistri as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective June 10, 2026.

Recent financial snapshot mentioned by the company

Esaar (India) reported a Q1FY26 net profit of ₹1.6525 crore, reversing a loss of ₹17.1153 crore reported in Q1FY25. While the rights issue terms and timeline are the immediate focus, this profit turnaround provides context on the company’s recent performance as it moves ahead with a large equity issuance.

Market impact: what changes for shareholders

For shareholders, the most direct impact is the corporate action timeline: eligibility hinges on holding shares on August 25, 2026, and the subscription window runs from September 2 to September 11, 2026. The rights entitlement ratio of 44 for every 15 shares held means eligible investors will receive entitlements in large proportion to their existing holdings.

The company has also disclosed that post-issue equity shares would rise from 2.04 crore to 8.04 crore assuming full subscription, which is a key structural change for the stock. Separately, earlier rights issue coverage referenced a market price of ₹12.19 per share on the date of rights issue approval.

Why this rights issue matters

A rights issue of this scale is a major event in a listed company’s calendar because it involves a defined issuance price, a set entitlement ratio, and a clear schedule that affects who can participate. It also requires shareholders to take an action within the subscription window if they want to subscribe to their entitlement.

The formal dates for entitlement credit, renunciation cut-offs, allotment finalisation, and listing date provide a complete operational roadmap for the issue. Investors typically use these dates to plan whether to subscribe, renounce, or track the expected listing of the new equity shares.

Conclusion

Esaar (India) Ltd has announced the terms and timeline for its rights issue, setting August 25, 2026 as the record date and pricing the offer at ₹10 per share with a 44:15 entitlement ratio. The issue opens on September 2, 2026 and closes on September 11, 2026, with listing scheduled for September 17, 2026 as per the company’s timeline. The next milestones to watch are the credit of rights entitlements by August 27, 2026 and the basis of allotment finalisation on September 15, 2026.