Shanti Gold rights issue: ₹99.83 cr at ₹215 (2026)

Board finalises ₹99.83 crore rights issue terms

Shanti Gold International Limited has approved the definitive terms of a rights issue sized at ₹99.83 crore. The offer is priced at ₹215 per equity share, including a premium of ₹205 per share. The Board decision was taken at its meeting held on July 31, 2026, moving the company from an earlier framework approval to a final, executable structure. The company said it will issue 46,43,471 fully paid-up equity shares to eligible existing shareholders on a proportionate basis. The rights issue is designed to raise capital for corporate purposes, as stated in the disclosures. The total issue size assumes full subscription of the proposed securities.

Rights issue structure: renounceable offer for existing shareholders

The issue is structured as a renounceable rights issue, which means eligible shareholders can renounce or transfer their rights entitlements. Shanti Gold has set an entitlement ratio of 19 new shares for every 295 existing shares held on the record date. The record date for determining eligibility has been fixed as August 06, 2026. The company also clarified the treatment for small holdings and fractional entitlements. Shareholders holding fewer than 295 equity shares, or those holding shares in non-multiples of 295, will have fractional entitlements ignored. However, such shareholders may receive preferential consideration for one additional share if they apply for additional shares beyond their entitlement.

Issue schedule and key cut-offs

The rights issue opens on Friday, August 14, 2026, and closes on Friday, August 21, 2026. The company stated that shareholders must pay the full application amount at the time of applying. It also disclosed separate deadlines for renunciation routes to help investors plan transfers of entitlements. The on-market renunciation deadline has been set as Tuesday, August 18, 2026, while the off-market renunciation deadline is Thursday, August 20, 2026. Shanti Gold’s Board has retained the right to extend the issue period by up to 30 days from the opening date, if required. The disclosures also state that no withdrawals will be permitted after the closing date.

Approvals and regulatory filings behind the final terms

The July 31, 2026 Board meeting followed in-principle approvals received from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 23, 2026. Separately, the company had earlier informed exchanges that the Board would meet on July 31 to finalise the issue price, entitlement ratio, record date, and the timing and payment structure. That intimation was made under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The move reflects the company’s shift from a broad fund-raising decision to finalising the operational details required to launch the offer.

How this ties back to the June 30 fund-raise framework

Shanti Gold had earlier approved the broad framework for the rights issue at a Board meeting held on June 30, 2026. At that time, the company disclosed that it would raise up to ₹100 crore through a rights issue of fully paid-up equity shares. The equity shares proposed under the issue carry a face value of ₹10 each, as disclosed earlier. The stated objects of the issue included funding working capital requirements and general corporate purposes, subject to regulatory approvals and applicable SEBI regulations. Key terms such as issue price, record date, and entitlement ratio were explicitly stated as pending at that stage. The July 31 decision completes those pending elements with a set price, ratio, record date, and a defined subscription window.

Treatment of small shareholders and fractional entitlements

The company’s disclosures include specific handling rules for holdings below the entitlement lot size. Shareholders holding fewer than 295 shares will receive zero entitlement, and such entitlement forms are described as non-negotiable. For shareholders whose holdings result in fractional entitlements, the fractions will be ignored rather than rounded up as a matter of rule. But the company added an important operational point for such investors: preferential consideration may be given for one additional share if they apply for additional shares beyond their entitlement. These conditions matter because they influence how many shares an investor can practically apply for, especially in small portfolios or uneven holdings.

Other Board action: internal auditor reappointment

Alongside the capital-raising decision, Shanti Gold International Limited also reappointed Ankit Mundra & Associates as its internal auditors. The reappointment is for FY 2026-27, and is effective July 31, 2026. This is a separate governance-related decision disclosed in the same overall context. Internal auditors play a role in reviewing internal controls and audit processes during the year. The timing indicates the company took the governance decision on the same date it finalised the rights issue terms.

Snapshot table: price, ratio, record date, and timelines

Market references disclosed alongside the rights issue updates

One disclosure referenced a stock price of ₹221 in the context of the company’s exchange communication. Separately, an external report in the provided material described the rights issue size of up to ₹100 crore as about 6.1% of a market capitalisation of ₹1,633 crore, implying potential dilution for shareholders who do not participate. The company’s own filings focus on the mechanics of the rights issue and the stated use of proceeds. Investors typically track such announcements for dilution, fund utilisation, and the practical dates that determine eligibility and trading of entitlements. For shareholders, the key action items are the record date, the application window, and the renunciation cut-offs.

Why the finalised terms matter for shareholders

Finalising the price and entitlement ratio turns the June 30 framework into an actionable event. The record date of August 06, 2026 determines who will be eligible to receive rights entitlements. The renounceable structure adds flexibility by allowing entitlements to be transferred, subject to the on-market and off-market cut-off dates disclosed. The requirement of full payment at application and the no-withdrawal rule after close are also material because they affect cash planning for participating investors. The company’s option to extend the issue period by up to 30 days provides operational flexibility, but the current disclosed close date remains August 21, 2026. Investors will typically watch for further exchange filings related to allotment and post-issue updates as the process progresses.

Conclusion

Shanti Gold International has set the final terms for its ₹99.83 crore rights issue at ₹215 per share, including the entitlement ratio of 19:295 and a record date of August 06, 2026. The issue opens August 14 and closes August 21, with renunciation deadlines on August 18 (on-market) and August 20 (off-market). The Board has also reappointed Ankit Mundra & Associates as internal auditors for FY 2026-27 effective July 31, 2026. The next steps for shareholders are to track entitlements after the record date and follow the issue timeline and payment requirement during the subscription window.