Geetanjali Credit and Capital fixes ₹88.38 crore issue terms

Geetanjali Credit and Capital Limited has fixed a ₹88.38 crore rights issue of 7,07,07,200 partly paid-up equity shares at ₹12.50 each, with eligible shareholders entitled to 16 shares for every one fully paid-up share held on November 18, 2026. The issue size and resulting 7,51,26,400-share post-issue count assume full subscription and payment of call monies.

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

Geetanjali Credit and Capital will offer 7,07,07,200 partly paid-up Rights Equity Shares at ₹12.50 per share, for an aggregate ₹88.38 crore assuming full subscription and payment of call monies. Each share has a face value of ₹10 and carries a premium of ₹2.50, making the stated issue price ₹12.50. The instrument approved by the Rights Issue Committee is therefore a partly paid-up equity share rather than a fully paid-up share.

The committee fixed these terms on November 12, 2026, after the board had approved a rights issue of up to ₹90 crore on July 16, 2026. The final stated size of ₹88.38 crore is ₹1.62 crore below that earlier maximum. The filing does not state a schedule for call payments, despite making the aggregate size conditional on payment of call monies.

Who is eligible for Geetanjali Credit and Capital rights shares?

Eligible equity shareholders of Geetanjali Credit and Capital will receive an entitlement of 16 Rights Equity Shares for every one fully paid-up equity share held on the November 18, 2026 record date. The company set Wednesday, November 18, 2026 as the date for identifying shareholders eligible for the offer. The entitlement ratio applies specifically to fully paid-up equity shares held on that date.

The filing distinguishes the record date from the November 12, 2026 committee meeting that approved the terms. A holder with one qualifying fully paid-up equity share on November 18, 2026 would have an entitlement for 16 Rights Equity Shares under the stated ratio. Geetanjali Credit and Capital has not disclosed the remaining subscription timetable in this announcement.

The offer terms describe the recipients as Eligible Equity Shareholders and the new securities as Rights Equity Shares. The announcement does not state whether rights entitlements can be renounced, traded or applied for beyond entitlement. Those matters are among the additional terms that the company says will appear in its Letter of Offer.

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

Geetanjali Credit and Capital's outstanding equity share count could rise from 44,19,200 to 7,51,26,400 if all 7,07,07,200 Rights Equity Shares are subscribed and all call monies are paid. The increase of 7,07,07,200 shares equals the total number of shares being offered. The company explicitly qualifies the post-issue total as an assumption rather than a confirmed outcome.

The potential post-issue total is 17 times the pre-issue share count, reflecting 16 new Rights Equity Shares offered for each existing qualifying share. This comparison follows the disclosed entitlement ratio and the stated share counts. It does not establish the final number of shares because that depends on full subscription and payment of call monies.

The share-count change is separate from the issue's face value and premium structure. At ₹12.50 per Rights Equity Share, the ₹2.50 premium represents the portion above the ₹10 face value. The filing does not provide a revised paid-up capital figure or a shareholder-level ownership outcome following the proposed issue.

What approvals has Geetanjali Credit and Capital received?

Geetanjali Credit and Capital received board approval on July 16, 2026 for a partly paid-up rights issue of up to ₹90 crore, and BSE Limited gave in-principle approval on October 16, 2026. The Rights Issue Committee then approved the disclosed price, size, ratio and record date on November 12, 2026. These are separate milestones in the company’s stated approval sequence.

The committee meeting started at 6:30 p.m. and ended at 7:00 p.m. on November 12, 2026. Geetanjali Credit and Capital issued the announcement under Regulations 30 and 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing identifies BSE Limited’s October 16 letter as in-principle approval for the proposed Rights Issue.

The board’s July approval set a ceiling of ₹90 crore, while the committee’s terms specify ₹88.38 crore under full-subscription and call-payment assumptions. The difference is not described as a change in strategy or use of proceeds in the announcement. Geetanjali Credit and Capital also does not disclose shareholder approval details in this two-page filing.

What will Geetanjali Credit and Capital's Letter of Offer clarify?

Geetanjali Credit and Capital says its Letter of Offer will set out other rights issue terms, including the treatment of fractional entitlements. The November 12, 2026 announcement confirms the ₹12.50 price, 16-for-one ratio, 7,07,07,200-share offer and November 18, 2026 record date. It does not provide the additional mechanics reserved for the Letter of Offer.

The filing does not state the intended use of the ₹88.38 crore issue proceeds. It also does not specify the dates for opening or closing the issue, the timing or size of call payments, or the process for handling fractional entitlements. Those omissions limit the disclosure to the terms fixed by the committee rather than the full operating timetable.

The Letter of Offer is the next document identified by the company for unresolved offer details. Its release would provide the additional terms that sit alongside the November 18, 2026 record date. Until then, the company has disclosed a potential equity expansion of 7,07,07,200 shares, conditional on the stated subscription and payment assumptions.

Conclusion

Geetanjali Credit and Capital has progressed from a ₹90 crore board-authorised ceiling to defined terms for a ₹88.38 crore partly paid-up rights offer. The 16-for-one ratio creates the possibility of a much larger equity-share base, from 44,19,200 shares to 7,51,26,400 shares, but the company makes that result conditional on full subscription and payment of call monies.

The next scheduled event disclosed is the November 18, 2026 record date, which determines eligible shareholders under the entitlement ratio. Investors should also watch for the Letter of Offer, because Geetanjali Credit and Capital says it will disclose other terms, including fractional-entitlement treatment, while the present filing leaves the call-payment schedule, issue timetable and use of proceeds unresolved.