Shraddha Prime Projects rights issue 2026 terms finalised

Board meeting outcome and what was approved

Shraddha Prime Projects Ltd has finalised key terms for its proposed rights issue following a Board meeting held on October 1, 2026. The company plans to raise about ₹96.96 crore by issuing partly paid-up equity shares to existing shareholders. The Board fixed the issue price at ₹160 per equity share, which includes a face value of ₹10 and a premium of ₹150. The rights entitlement ratio has been set at 3:20, meaning shareholders will get three rights shares for every 20 fully-paid equity shares held on the record date. The company stated the disclosures were made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rights issue size and share count

The rights issue size has been disclosed as ₹96,96,24,000 (about ₹96.96 crore). To raise this amount, the company will offer 60,60,150 equity shares (about 60.60 lakh shares) to eligible shareholders. The shares are described as partly paid-up equity shares under the rights issue structure. In practical terms, this allows the company to collect a major portion of the issue price upfront while keeping a smaller balance payable later through a call. The company has indicated that the capital raise is expected to support its balance sheet and fund ongoing project execution, including in the Ghatkopar and suburban Mumbai micro-markets.

Price, face value, and premium details

The issue price is ₹160 per share, comprising a face value of ₹10 and a premium of ₹150. This price point was approved by the Board while finalising the rights issue terms. The premium component has been explicitly broken out, which matters for investors assessing pricing relative to face value. The disclosure also clarifies that the application money and the subsequent call each contain a premium component. The rights issue is proposed to be listed on BSE and NSE as per the details provided.

Payment schedule: application money and later call

Shraddha Prime Projects has structured the payment schedule in two tranches. Investors will pay ₹144 per share at the time of application, representing 90% of the issue price. The remaining ₹16 per share will be collected through a subsequent call, representing the balance 10%. The company also specified how the premium is allocated across the two tranches: the application money includes premium of ₹135, and the subsequent call includes premium of ₹15. Because the shares are partly paid-up initially, investors should track the call timeline once announced to avoid any lapse in payment obligations.

Record date and last date to buy shares

The record date for determining eligible shareholders has been fixed as Thursday, October 15, 2026. Investors who hold shares as of the record date will be entitled to receive rights entitlements in the 3:20 ratio. The last date to buy shares to be eligible has been stated as October 14, 2026. This is a standard market convention because purchases need to settle before the record date for entitlement eligibility. The record date is the clearest confirmed date in the information provided.

Rights issue open and close dates: what is known

The available information indicates the rights issue is to open in 2026 and close in 2026, but specific calendar dates are not provided in the text. Other milestones such as the deemed date of allotment and the renunciation window are also shown as “2026” without day-month details. Investors typically rely on the final letter of offer and exchange notices for the exact schedule. Until those dates are published, shareholders should treat the record date and last date to buy as the only clearly specified timeline markers.

BSE in-principle approval and listing context

Ahead of the Board finalising the terms, Shraddha Prime Projects received in-principle approval from BSE on September 22, 2026. The approval relates to the listing of partly paid-up equity shares issued through the rights issue route. This step is an important part of the process because it signals that the exchange has provided a preliminary nod, subject to the company meeting applicable requirements. The company’s later disclosures note that the proposed rights issue remains subject to completing statutory, legal, and listing formalities under SEBI and exchange regulations.

Merchant banker appointment: GYR replaces Almondz

The Board has appointed GYR Capital Advisors Private Limited as the merchant banker for the rights issue. This appointment replaces Almondz Financial Services Limited, which had been associated earlier for the issue. Merchant bankers play a central role in managing the issue process, coordinating filings, and ensuring compliance with regulatory requirements. A change in merchant banker is not uncommon in capital-raising exercises, but investors should note it because it can influence execution timelines and process communication.

Company profile and business footprint

Founded in March 1993, Shraddha Prime Projects is engaged in real estate development and related activities. The company’s activities include development, construction, leasing, and redevelopment of residential and commercial projects in India. The business profile also mentions work across residential buildings, townships, and slum rehabilitation projects. The company is also described in one note as formerly known as Towa Sokki Limited. These details provide context on the operating segment where the fresh capital is expected to be deployed.

How investors can apply and key contact details

The information provided mentions two application routes for the rights issue: net banking through ASBA and the registrar’s website using the R-WAP facility. These channels are commonly used for rights issues in India, with ASBA enabling funds to remain blocked until allotment. The company’s contact details listed include its office address at A-309, Kanara Business Centre Premises CHS Ltd, Link Road, Laxmi Nagar, a phone number (02221646000), and an email (shraddhaprimeprojects@gmail.com). Shareholders typically receive detailed instructions through the letter of offer and entitlement credit in their demat account.

Key terms at a glance

Timeline checkpoints mentioned

Market impact and why these details matter

The disclosure primarily clarifies the mechanics of the capital raise: how much the company intends to raise, how many shares will be issued, and the cash-flow structure via a partly paid-up format. For investors, the 3:20 entitlement ratio and the record date determine eligibility and the potential dilution mechanics if entitlements are not exercised. The two-stage payment structure changes near-term cash outflow for subscribing shareholders because only ₹144 per share is payable at application, with ₹16 later. No stock price reaction, trading volume, or valuation commentary is included in the provided information, so market response cannot be quantified from the text.

Conclusion

Shraddha Prime Projects’ Board has approved a ₹96.96 crore rights issue at ₹160 per share, with a 3:20 entitlement ratio and October 15, 2026 as the record date. The issue will be partly paid-up initially, with ₹144 per share due at application and ₹16 per share payable on a later call. The company also has BSE in-principle approval (dated September 22, 2026) and has appointed GYR Capital Advisors as merchant banker. The next key updates for shareholders will be the final rights issue opening and closing dates, along with the post-issue compliance steps and formal exchange filings.