Minolta Finance rights issue: ₹48 cr plan for 2026

What the board approved

Minolta Finance Ltd’s board has approved a rights issue of 40,00,00,000 equity shares priced at ₹1.20 per share, targeting a fundraise of ₹48 crore. The company has set an entitlement ratio of 4:1, meaning eligible shareholders can apply for four rights shares for every one share held, subject to the terms of the offer.

The board meeting was conducted via video conferencing, and the company said the meeting finalised the key parameters for the issue. The company has also communicated an updated timetable for the record date and key milestones.

Record date and issue schedule

The record date for determining shareholder eligibility has been fixed as Friday, July 17, 2026. The rights issue is scheduled to open on Saturday, August 1, 2026.

The company also disclosed the last date for market renunciation as Monday, August 10, 2026. Market renunciation allows eligible shareholders to renounce their rights entitlement in the market within the prescribed window.

How this differs from the earlier plan

The latest terms come after a separate set of rights issue details that had earlier been communicated with a different record date and pricing. Minolta Finance had previously fixed June 30, 2026 as the record date for a proposed rights issue of 450 crore equity shares at ₹1.10 per share, which corresponded to a fundraise plan of ₹49.5 crore.

However, the company later withdrew the June 30 record date, citing unforeseen circumstances and pending procedural formalities with depositories. This withdrawal was disclosed just days ahead of a June 27 board meeting that was expected to consider revisions to the issue price, entitlement ratio, and record date.

Why the record date was withdrawn earlier

In its disclosure around the withdrawal of the June 30 record date, Minolta Finance pointed to operational and process-related reasons rather than a change in strategic intent. The company cited unforeseen circumstances and pending depository formalities, and said it would announce a revised timeline later.

The withdrawal created uncertainty around the timing of the capital raise, particularly because the company had indicated that the board would revisit core terms such as the price and entitlement ratio. The latest announcement provides a revised record date and a fresh issuance plan with updated pricing.

Rights issue terms now in focus

Under the updated plan, the issue size is communicated as 40,00,00,000 equity shares at ₹1.20 each, aggregating to ₹48 crore. The entitlement ratio is stated as 4:1, and the timeline sets July 17 as the record date and August 1 as the opening date.

While the company has not provided additional commentary on the use of proceeds in the provided material, the combination of an updated record date, opening date, and renunciation deadline indicates the company is moving ahead with a defined schedule after the earlier withdrawal.

Key dates and figures at a glance

Comparison with the earlier disclosed record date

The rights issue process has seen a change in the record date over time. The company earlier fixed June 30, 2026 as a record date for the proposed rights issue, and subsequently withdrew it. The revised plan now sets July 17, 2026 as the record date.

Other corporate updates mentioned

Separate from the rights issue, the company has previously communicated corporate actions and compliance-related updates. These include earlier record dates related to a sub-division (stock split) of equity shares, where the face value moved from ₹10 to Re. 1, with the stock split stated to take effect under NEW ISIN: INE514C01026.

The provided material also mentions that the board had finalised a Draft Letter of Offer for an upcoming rights issue (up to 49.50 crore rights shares) in a board meeting held on March 13, 2025, with the record date to be determined and notified later.

Company contact details (as provided)

Minolta Finance Ltd’s contact details included in the provided text are:

• Address: Unique Pearl, BL-A, Hatiara, Roy Para, Kolkata, West Bengal, 700157
• Tel: 033-42116000
• Email: minoltafinance@gmail.com

Market impact and what investors typically track

For shareholders, the most immediate operational dates to track in a rights issue are the record date, the issue opening date, and the renunciation window. The withdrawal of the earlier record date highlighted how procedural readiness with intermediaries such as depositories can affect the schedule.

With the revised timetable now disclosed, investors typically focus on eligibility as of July 17, 2026, and the market renunciation deadline of August 10, 2026. Any subsequent company communication around detailed terms in the letter of offer would be relevant for confirming operational steps and timelines.

Conclusion

Minolta Finance has moved from a withdrawn June record date to a fresh rights issue schedule, with the board approving a ₹48 crore issue at ₹1.20 per share, a 4:1 entitlement ratio, and a record date of July 17, 2026. The rights issue is set to open on August 1, 2026, with market renunciation permitted until August 10, 2026. The company has indicated earlier that revised terms and timelines would be announced, and the latest disclosure lays out the key parameters and dates for the updated plan.