Womancart Rights Issue: ₹12 Crore Fundraising Plan

Womancart Limited has submitted a draft letter of offer for a proposed rights issue of up to ₹12 crore. The company disclosed that its board meeting on October 28, 2026 would consider half-yearly unaudited financial results for the period ended September 2026 and a fund-raising proposal. The draft offer document is dated October 28, 2026 and is intended for eligible equity shareholders.

The proposed issue is subject to further finalisation. Its price, entitlement ratio, record date and number of equity shares are yet to be disclosed. The issue also requires in-principle approval from NSE Emerge before it can proceed.

Board approval for the proposed issue

According to the draft letter of offer, Womancart's board authorised the rights issue on October 28, 2026. The authorisation was made under Section 62(1)(a) of the Companies Act, 2013, along with other applicable provisions. Section 62(1)(a) covers further share issuance to existing equity shareholders through a rights offer.

The board approval sets the maximum fundraising amount at ₹1,200 lakh, or ₹12 crore, assuming full subscription. It does not establish the final capital structure of the issue because the share count and issue price remain blank in the draft document.

Key terms have not been fixed

The draft letter of offer states that Womancart may issue equity shares with a face value of ₹10 each for cash. However, the offer price, including any premium, has not been specified. The document also leaves blank the number of rights equity shares, the ratio of rights shares to existing holdings and the record date.

These terms determine how many shares an eligible shareholder can apply for and the cash required for the application. The draft document states that investors will pay 100% of the issue price on application, once that price is determined. Equity shares issued under the offer are proposed to rank pari passu with the existing equity shares in voting and dividend rights.

NSE Emerge approval remains relevant

The rights issue is pending in-principle approval from NSE Emerge, according to the available announcement summary. The draft letter of offer includes a standard reference to NSE Emerge approval under Regulation 28 of the SEBI Listing Regulations, but the approval letter date is blank.

As a result, the draft should not be treated as confirmation that exchange approval has already been received. Final issue details, including the opening and closing dates, would need to be disclosed after the relevant approvals and board or rights issue committee decisions.

Important facts from the draft offer

What a rights issue means for shareholders

A rights issue gives existing shareholders an opportunity to subscribe to new shares in proportion to their eligible holdings. In Womancart's case, the final entitlement will depend on the ratio announced with the completed offer terms. Shareholders will need to refer to the record date to determine eligibility.

The proposed issue does not provide a current subscription price or a discount comparison with the market price. Therefore, the financial commitment for shareholders and the possible change in the number of outstanding shares cannot yet be calculated from the draft document.

Earlier capital-raising disclosures

Womancart has previously disclosed equity and warrant issuances. A January 1, 2025 company event stated that Womancart planned to issue up to 779,600 equity shares at ₹312 each and up to 164,400 convertible warrants at ₹312 each.

Separately, the company stated that during the financial year ended March 31, 2025, it issued 742,200 equity shares and 2,618,600 share warrants at ₹128 per security on a preferential basis. It further stated that it had received 25% application money on the warrant allotment. The company said these transactions increased its paid-up capital to ₹4.95 crore during that financial year.

Recent corporate disclosures

Womancart held its eighth annual general meeting on September 30, 2026. The company stated that all agenda items at that meeting, including related-party approvals, were transacted. Its corporate action records also show an AGM-related announcement dated September 8, 2026 and a board-meeting entry dated April 29, 2026 concerning accounts and half-yearly results.

The October 28 board meeting linked the proposed fund raise with the review of half-yearly unaudited financial results for the six months ended September 2026. The financial results were identified as an item for consideration, but the figures were not included in the provided disclosures.

Market impact and information to watch

The proposed rights issue is a capital-raising step of up to ₹12 crore, subject to full subscription. Since the issue price, entitlement ratio and total number of shares are not available, there is no disclosed basis to quantify dilution or the amount an individual shareholder may need to invest.

For investors, the next material disclosures would be the final issue price, rights ratio, record date, issue timetable and NSE Emerge approval status. These items will establish the commercial terms of the transaction and the eligibility process for existing shareholders.

Why the filing matters

The filing provides formal notice that Womancart has initiated the rights-issue process under the Companies Act framework. It also places the proposed ₹12 crore fundraising alongside the company's earlier equity and warrant-related capital actions.

At this stage, the offer remains a draft with several key fields unfilled. Shareholders should rely on the final letter of offer and subsequent exchange filings for confirmed terms, dates and approval details.

Conclusion

Womancart's proposed rights issue has a maximum size of ₹12 crore and was authorised by its board on October 28, 2026. The issue remains contingent on final terms and NSE Emerge's in-principle approval. The company's next disclosures will clarify the price, entitlement ratio, record date and schedule for eligible shareholders.