Minolta Finance rights issue 2026: ₹48 crore schedule

What Minolta Finance announced

Minolta Finance Limited has laid out key dates and terms for its proposed rights issue, targeting an aggregate fundraise of up to ₹48 crore. The company plans to issue up to 40 crore fully paid-up equity shares with a face value of ₹1 each at an issue price of ₹1.20 per share, including a premium of ₹0.20. The entitlement ratio has been specified as 4:1, meaning eligible shareholders can apply for four rights shares for every one fully paid-up equity share held on the record date. The record date has been stated as Friday, July 17, 2026, with the last date to buy shares for eligibility mentioned as Thursday, July 16, 2026.

The rights issue is positioned as a shareholder-linked capital raise, where eligibility is determined strictly by holdings as on the record date. The company’s disclosures also state that the payment terms are “full”, indicating application money is payable in full at the time of applying for the rights shares. The rights shares are expected to be listed, with BSE explicitly mentioned, and some parts of the provided information also reference listing on CSE.

Core terms: price, ratio, and issue size

The issue size has been communicated as 40,00,00,000 equity shares (40 crore shares). At ₹1.20 per share, the aggregate issue amount is up to ₹48 crore. The face value is ₹1 per share, and the issue price is ₹1.20 per share.

The entitlement ratio of 4:1 has been repeated across the provided details. In practical terms, an investor holding 1 equity share as on the record date can apply for 4 rights equity shares, subject to the offer terms and application process. The company has also stated that the rights entitlements can be renounced, including on-market renunciation, within the specified window.

Record date and eligibility cut-off

The record date disclosed is July 17, 2026. Investors needed to buy shares by July 16, 2026 to be eligible, as referenced in the provided data. This is consistent with market settlement mechanics, where share ownership is recognized on the record date for corporate actions.

The company has also referenced that the record date decision was taken under SEBI rules. The BSE scrip code mentioned in the provided details is 532164, and the exchange for listing is noted as BSE.

Board decision: renunciation date moved earlier

A key update in the material is a board-level change to the last date for on-market renunciation of rights entitlements. Following a Board of Directors meeting held on Tuesday, July 28, 2026, the company stated it advanced the last date for on-market renunciation from Friday, August 14, 2026 to Tuesday, August 11, 2026.

The disclosure links this update to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. While the adjustment is limited to the renunciation deadline, it can matter for shareholders or market participants who intend to sell or transfer their entitlements instead of subscribing.

Updated timeline shared by the company

The company’s revised schedule outlines dates for opening, closing, allotment-related events, and expected trading commencement. It also notes that credit of rights entitlements was completed on or about Monday, July 27, 2026.

Some portions of the provided text include alternative dates for opening (August 1, 2026), renunciation (August 10, 2026), and closing (August 13, 2026). However, the same material also includes a “final timeline” section after the July 28 board meeting that lists the revised renunciation date as August 11, 2026 and the issue closing date as August 17, 2026.

Use of proceeds and issue expenses

The provided information states the company is spending ₹1.50 crore for the rights issue process. It also states that from the net proceeds, ₹46.50 crore will be used for augmenting its capital base. These figures imply the company has outlined a clear split between costs and the stated primary end-use.

In addition, the text indicates that post-allotment, Minolta Finance’s paid-up equity capital is expected to rise from ₹10.00 crore to ₹50.00 crore. This reflects the large size of the proposed issuance relative to the existing capital base, based on the numbers cited.

Key facts at a glance

Timeline: revised schedule referenced in the disclosure

Market impact: what changes for shareholders

For existing shareholders, the key operational impact is eligibility and timing. Shareholders on the register as of July 17, 2026 are entitled to apply in the 4:1 ratio. Those who do not wish to subscribe can use the renunciation mechanism, including the on-market route, within the updated window.

The renunciation deadline shift from August 14 to August 11, 2026 shortens the decision period for holders who plan to sell entitlements on-market. Meanwhile, the issue price of ₹1.20 and the “full” payment requirement define the cash outlay needed to subscribe. The post-issue paid-up capital increase stated in the provided text also indicates significant equity issuance, which shareholders typically evaluate alongside the company’s stated use of proceeds.

Why the timeline update matters

Rights issues are calendar-driven, and small changes to deadlines can affect investor actionability. An earlier renunciation cut-off can reduce time for entitlement holders to make a choice between subscribing, renouncing, or letting entitlements lapse, depending on the detailed terms of the offer.

The company’s update references a formal board decision and regulatory disclosure basis, which is relevant for tracking the final timetable. The presence of differing dates in the provided material also underlines why shareholders often rely on the most recent exchange filing and the final schedule communicated by the company.

Conclusion

Minolta Finance’s rights issue, sized at up to ₹48 crore through the issuance of up to 40 crore shares at ₹1.20 each, is anchored to a July 17, 2026 record date and a 4:1 entitlement ratio. The company has also advanced the last date for on-market renunciation to August 11, 2026, while keeping core issue terms unchanged. The next milestones, as per the stated schedule, include basis finalization around August 20 and allotment around August 21, followed by expected demat credit and listing-related steps later in August.