Geetanjali Credit and Capital fixes Rs 88.38 crore rights issue

Geetanjali Credit and Capital Limited fixed an Rs 88.38 crore partly paid rights issue on November 12, 2026, offering 7.07 crore shares at Rs 12.50 each in a 16-for-1 entitlement ratio, assuming full subscription and payment of all call monies.

What are Geetanjali Credit and Capital's rights issue terms?

Geetanjali Credit and Capital has fixed its rights issue at 7,07,07,200 partly paid-up equity shares, aggregating to Rs 88.38 crore if every share is subscribed and all call monies are paid. The Rights Issue Committee approved the terms at its November 12, 2026 meeting after BSE Limited granted in-principle approval on October 16, 2026. Each Rights Equity Share has a face value of Rs 10.

Geetanjali Credit and Capital set the issue price at Rs 12.50 per Rights Equity Share, comprising Rs 10 face value and a premium of Rs 2.50 per share. Its board had approved a partly paid rights issue of up to Rs 90 crore on July 16, 2026. The fixed Rs 88.38 crore issue size is Rs 1.62 crore below that approved maximum, on the company's stated full-subscription and full-payment assumption.

The November 12 filing does not state the amount payable on application or the dates and amounts of subsequent calls. Geetanjali Credit and Capital identifies the securities as partly paid-up equity shares and makes the Rs 88.38 crore aggregate conditional on payment of call monies. The announcement therefore sets the total price at Rs 12.50 per share but does not provide a payment timetable.

Who is eligible for Geetanjali Credit and Capital rights shares?

Geetanjali Credit and Capital will offer 16 Rights Equity Shares for every one fully paid-up equity share held by eligible equity shareholders on Wednesday, November 18, 2026. That record date, rather than the November 12 committee meeting date, determines the holders entitled to participate in the disclosed 16-for-1 offer.

Geetanjali Credit and Capital specified the International Securities Identification Number, or ISIN, for Rights Entitlements as INE263R20010. The filing identifies the entitlement ratio and the November 18, 2026 record date, but does not set out application procedures, entitlement trading arrangements or the opening and closing dates for the issue.

Other rights issue terms, including the handling of fractional entitlements, will be included in the Letter of Offer that Geetanjali Credit and Capital is to file. The November 12 announcement does not explain how fractions arising from the 16-for-1 ratio will be treated. It expressly calculates the entitlement against fully paid-up equity shares held on the record date.

How would Geetanjali Credit and Capital's share count change?

Geetanjali Credit and Capital said its outstanding equity shares would rise from 44.19 lakh before the rights issue to 7.51 crore after it, assuming full subscription and payment of call monies. The increase reflects the proposed issue of 7.07 crore Rights Equity Shares. The 7.51 crore figure is a conditional post-issue outcome, rather than the outstanding share count on November 12, 2026.

The disclosed 16-for-1 entitlement ratio corresponds with the announced share quantity. Geetanjali Credit and Capital reported 44,19,200 equity shares before the issue, and offering 16 new shares for each qualifying existing share results in 7,07,07,200 Rights Equity Shares. The before-and-after share counts use the same assumptions of full subscription and payment of calls.

The proposed share count would be much larger than the 44.19 lakh pre-issue base because each qualifying share carries entitlement to 16 new shares. Geetanjali Credit and Capital did not disclose expected shareholder participation, promoter participation or an expected subscription level in its November 12 filing. Accordingly, the 7.51 crore post-issue count remains dependent on the conditions stated by the company.

What Geetanjali Credit and Capital details remain pending?

Geetanjali Credit and Capital said its Letter of Offer will contain other rights issue terms, including fractional entitlements. The November 12 filing provides the Rs 12.50 price, Rs 2.50 premium, 16-for-1 ratio, 7.07 crore share quantity and November 18, 2026 record date, but does not give the Letter of Offer filing date.

The company also does not disclose the final application period, allotment date, listing timetable or call-money schedule in this two-page announcement. Geetanjali Credit and Capital issued the disclosure under Regulations 30 and 42 of the Securities and Exchange Board of India Listing Regulations, 2015, as amended. Its stated purpose is to report the committee outcome and provide prior intimation of the record date.

BSE Limited's October 16, 2026 in-principle approval preceded the committee's setting of the Rs 88.38 crore issue terms on November 12, 2026. That approval does not provide the remaining commercial timetable in this filing. The next document specifically identified by Geetanjali Credit and Capital is the Letter of Offer, which will contain the terms not included in the announcement.

Conclusion

Geetanjali Credit and Capital has turned its July 16, 2026 approval for a rights issue of up to Rs 90 crore into fixed terms for an Rs 88.38 crore offer. At Rs 12.50 per partly paid share and a 16-for-1 entitlement ratio, the transaction would add 7.07 crore shares to a pre-issue base of 44.19 lakh shares if it is fully subscribed and all call monies are paid.

The next disclosed date is November 18, 2026, when the record date will determine eligible holders under the 16-for-1 ratio. Geetanjali Credit and Capital has identified the Letter of Offer as the document expected to provide the unresolved terms, including treatment of fractional entitlements, while the application timetable, allotment timing and call-payment schedule were not disclosed in the November 12 filing.