Jindal Capital Limited rights issue could lift shares 150%

Jindal Capital Limited has approved a Rs 16.22 crore rights issue that could increase its outstanding equity shares by 150%, from 72,08,100 to 1,80,20,249, if fully subscribed. Jindal Capital will offer 1,08,12,149 shares at Rs 15 each in a three-for-two entitlement issue recorded on November 6, 2026.

What are the terms of Jindal Capital’s rights issue?

Jindal Capital will offer 1,08,12,149 fully paid-up Rights Equity Shares, each with a face value of Rs 10, at Rs 15 per share. The price includes a Rs 5 premium, and the issue can raise up to Rs 16.22 crore assuming full subscription. Its board approved the terms on November 2, 2026, after BSE Limited gave in-principle approval on October 28, 2026.

Eligible shareholders will receive an entitlement of three Rights Equity Shares for every two fully paid-up equity shares held on the record date of Friday, November 6, 2026. The full Rs 15 per Rights Equity Share is payable at application, with no later calls stated in the filing. The issue is being made under Chapter III of the Securities and Exchange Board of India, or SEBI, Issue of Capital and Disclosure Requirements Regulations, 2018.

The issue size of Rs 16.22 crore results from the stated 1,08,12,149 Rights Equity Shares at Rs 15 each. The November 2 filing sets out the issue size, price, entitlement and schedule, but does not state an allocation of proceeds by use.

How much could Jindal Capital’s equity base increase?

Jindal Capital’s outstanding equity shares could increase by 1,08,12,149 shares, or 150%, if the rights issue is fully subscribed. The proposed new shares exceed the 72,08,100 shares outstanding before the offer, taking the total to 1,80,20,249 shares under the company’s full-subscription assumption.

For a holder that does not subscribe to or acquire Rights Entitlements, full subscription would reduce that holder’s percentage ownership of the enlarged 1,80,20,249-share base. A shareholder with a holding in multiples of two shares would need to apply for three new shares for every two held on November 6, 2026 to maintain the same proportional ownership, subject to allotment.

The 3-for-2 ratio represents a materially larger issue than the pre-issue share base because it adds 1.5 shares for every existing share. Jindal Capital’s post-issue count of 1,80,20,249 shares is therefore about 2.5 times the pre-issue count of 72,08,100 shares, based on the figures disclosed in the filing.

When does Jindal Capital’s rights issue open and close?

Jindal Capital’s rights issue opens on Tuesday, November 17, 2026 and closes on Tuesday, December 1, 2026. Rights Entitlements are due to be credited by Monday, November 9, 2026, after the Friday, November 6, 2026 record date used to identify eligible equity shareholders.

The deadline for on-market renunciation is Thursday, November 26, 2026, while off-market transfer closes on Monday, November 30, 2026. Jindal Capital said an off-market transfer must be completed so that Rights Entitlements reach the renouncee’s demat account on or before the December 1 issue closing date.

Jindal Capital’s board or an authorised committee can extend the issue period, but the offer cannot remain open for more than 30 days from November 17, 2026, including the opening date. The filing also says an applicant cannot withdraw an application after the December 1, 2026 closing date.

How do renunciation and fractional entitlements work for Jindal Capital holders?

Jindal Capital allows shareholders to renounce Rights Entitlements either on-market through the stock exchange or by off-market transfer. The Rights Entitlement International Securities Identification Number, or ISIN, is INE356F20017, with the on-market deadline set for November 26, 2026 and the off-market deadline for November 30, 2026.

A shareholder holding fewer than two shares, or a number of shares that is not a multiple of two, may have a fractional entitlement ignored in the initial calculation. Jindal Capital said such shareholders will receive preferential consideration for allotment of one additional Rights Equity Share if they apply for additional shares beyond their stated entitlement.

The board approved the Letter of Offer dated November 2, 2026, the Application Form, or CAF, and other issue materials. Jindal Capital said these materials will be filed with BSE Limited and SEBI and dispatched to eligible shareholders identified on the November 6, 2026 record date.

Conclusion

Jindal Capital’s proposed Rs 16.22 crore rights issue combines a Rs 15 share price with a three-for-two entitlement ratio and a potential 150% increase in outstanding shares. Full subscription would add 1,08,12,149 shares to the pre-issue base of 72,08,100 shares, producing a total of 1,80,20,249 shares.

The next disclosed milestones are the November 6, 2026 record date, Rights Entitlement credit by November 9, issue opening on November 17 and closure on December 1. Shareholders can also watch for the Letter of Offer and related materials that Jindal Capital plans to file with BSE Limited and SEBI before dispatching them to eligible holders.