Zodiac-JRD-MKJ Rights Issue 2025: Price, Dates

What Zodiac-JRD-MKJ has announced

Zodiac-JRD-MKJ Limited has announced a rights issue of fully paid-up equity shares, offering existing shareholders the option to subscribe in proportion to their current holdings. The company’s board considered and approved the fundraising proposal and also delegated powers to a Rights Issue Committee to finalise terms and handle related actions.

The filings and trackers referenced in the information set out multiple figures for the proposed raise. One set of details describes a maximum rights issue size of up to INR 40 crore (also stated as INR 4,000 lakh), while the offer details for the 2025 issue are widely presented as INR 23.19 crore.

Board approval and the regulatory framework

As per the provided information, the board approved raising funds through issuance of equity shares on a rights basis to eligible equity shareholders. The issue is stated to be governed by the Companies Act, 2013 (as amended) and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (as amended).

The rights issue is also described as being subject to receipt of necessary approvals from regulatory authorities. In addition, the company has received an ‘in principle’ approval for listing from BSE Limited, as stated in the material.

Security, face value, and what is known about pricing

The rights issue involves equity shares with a face value of INR 10 each. Pricing references in the provided text are not fully consistent across sources.

• One section mentions an issue price of INR 30 per share.
• Multiple tables and the detailed schedule mention an issue price of INR 40 per share.
• A separate line states “INR 400 per share”.

The BSE notice text included in the material specifies equity shares of INR 10 each “for cash at a Premium of Rs.30/- per Share,” which implies an issue price of INR 40 per share (INR 10 face value plus INR 30 premium). Where readers see conflicting numbers across platforms, the stock exchange notice and the company’s offer document are typically treated as primary references.

Entitlement ratio and eligibility on record date

The rights entitlement ratio provided is 112:100, meaning shareholders are entitled to apply for 112 rights equity shares for every 100 fully paid-up equity shares held as of the record date.

The record date is stated as 21 May 2025. It is also mentioned that investors would need to have bought shares on or before 20 May 2025 to be eligible for rights entitlements, aligning with the “last date to buy” convention referenced in the material.

Issue size: maximum approval versus offer details

The material contains two distinct “size” references:

• Maximum issue size approved / proposed: up to INR 40 crore (INR 4,000 lakh), inclusive of premium, if any.
• Rights issue offer details (2025): INR 23.19 crore, with an issue size of 57,98,443 equity shares (also referenced as about 58 lakh shares).

This difference matters because “up to” board approvals can represent an enabling limit, while the final offer size disclosed in the offer details can be lower. Investors typically track the final letter of offer and exchange filings for the definitive number.

Key dates: subscription window and schedule

The rights issue is described as having opened on 30 May 2025 and closed on 9 June 2025 in the most repeated schedule entries. Another timetable in the provided text lists the closing date as 6 June 2025, indicating that not all published references match.

The information set also provides dates for renunciation and tentative credit and listing timelines, which are relevant for shareholders who intend to sell their rights entitlements or track when additional shares may reflect in their demat accounts.

Timeline and terms at a glance

Detailed schedule (as provided)

Market impact: what this announcement changes for shareholders

A rights issue affects shareholders primarily through the entitlement mechanism and the cash outflow decision. Eligible investors receive rights entitlements based on the 112:100 ratio, and then must decide whether to subscribe (paying the full amount on application, as stated), renounce, or let entitlements lapse subject to the rules and timelines.

From a capital structure perspective, the reported 2025 offer size is 57,98,443 shares aggregating to INR 23.19 crore, while the board proposal references a maximum enabling amount of up to INR 40 crore. The difference between these figures is important for tracking dilution and the eventual number of shares issued under the final terms.

Analysis: what to watch for in the filings

The most material points to verify in the company’s final offer documentation are the definitive issue price, the final issue size, and the completed timeline used for allotment and listing. In the provided information, the pricing is inconsistent across references, but the BSE notice language on a INR 30 premium supports an effective price of INR 40 per share when combined with the INR 10 face value.

Investors should also note that the company stated it would conduct the issue under applicable regulations and subject to regulatory approvals. In practice, this means the letter of offer and exchange notices become key checkpoints for final, enforceable terms.

Conclusion

Zodiac-JRD-MKJ’s 2025 rights issue is structured around a 112:100 entitlement ratio with a 21 May 2025 record date and a subscription window reported as 30 May to 9 June 2025. The maximum board-approved size is stated as up to INR 40 crore, while the detailed offer size is presented as INR 23.19 crore for 57,98,443 shares. The next practical milestones for investors are the allotment, credit, and listing dates, which are listed as 13 June, 19 June, and 24 June 2025, respectively.