Zodiac-JRD-MKJ Limited Sets ₹40 Crore Rights Issue Terms

Zodiac-JRD-MKJ Limited has finalised a rights issue of up to ₹40 crore at ₹25 per share, with eligible shareholders entitled to receive 145 rights shares for every 100 shares held on November 11, 2026. The issue can add up to 1.60 crore equity shares if fully subscribed.

What are the terms of Zodiac-JRD-MKJ's rights issue?

Zodiac-JRD-MKJ has approved the issue of up to 1,60,00,000 fully paid-up equity shares through a rights offering. The company has fixed the issue price at ₹25 per share, including a face value of ₹10 and a premium of ₹15 per share. At full subscription, the issue would raise up to ₹40 crore.

The entitlement ratio is 145 fully paid-up equity shares for every 100 fully paid-up equity shares held by eligible investors. This is a large entitlement relative to the existing shareholding base and is the central feature of the proposed capital raising exercise.

The company had previously approved a rights issue proposal of up to ₹40 crore in August 2026. The board's November 4 meeting finalised the price, entitlement ratio, record date and other terms, along with the letter of offer.

Which shareholders can receive Zodiac-JRD-MKJ rights entitlements?

Zodiac-JRD-MKJ has fixed Wednesday, November 11, 2026, as the record date for determining eligible equity shareholders. Investors holding the company's fully paid-up equity shares on that date will be eligible to receive rights entitlements under the stated ratio.

The record date is relevant because it determines the shareholder base entitled to participate in the offer. The company has also indicated that the ISIN for dematerialised rights entitlements is INE077B20026.

The stated corporate-action information identifies November 11, 2026, as the ex-date as well. Investors assessing eligibility need to consider the settlement process and the record-date requirement communicated by the company and the exchange.

When will Zodiac-JRD-MKJ's rights issue open and close?

Zodiac-JRD-MKJ's rights issue is scheduled to open on Thursday, November 19, 2026, and close on Thursday, December 3, 2026. These dates were approved when the board finalised the issue terms on November 4.

The finalisation followed BSE Limited's in-principle approval, which was received through a letter dated November 3, 2026. The earlier board approval in August had made the fundraising plan subject to necessary regulatory and stock-exchange approvals.

How could the rights issue change Zodiac-JRD-MKJ's share capital?

Zodiac-JRD-MKJ had 1,09,75,625 outstanding equity shares before the issue, according to the disclosed terms. If all 1,60,00,000 shares are subscribed, the outstanding share count would rise to 2,69,75,625 shares.

That would increase the number of outstanding shares by about 146% from the pre-issue base. The rights issue provides existing shareholders an opportunity to maintain their proportionate holding by subscribing according to their entitlement, while shareholders who do not participate may see their ownership percentage decline after new shares are issued.

The issue price of ₹25 per share and the proposed share count together define the maximum ₹40 crore fundraising size. The disclosure does not specify the intended use of the issue proceeds, so the approved filing establishes the capital-raising terms rather than a detailed deployment plan.

Why do the approved terms matter for investors and the market?

Zodiac-JRD-MKJ's final terms give shareholders the key information needed to assess participation: the price, entitlement ratio, eligibility date and subscription window. The board's approval also moves the proposal from an earlier in-principle fundraising decision to a scheduled offer with defined conditions.

For investors, the main financial consideration is the substantial potential expansion in the equity base. Full subscription would take the outstanding share count from 1,09,75,625 to 2,69,75,625. This change is directly relevant to ownership percentages and per-share calculations after the issue.

The company has described the offering as a rights issue to eligible equity shareholders and has obtained BSE's in-principle approval. No separate statement on investor demand, subscription commitments or the use of proceeds was included in the provided disclosures.

Conclusion

Zodiac-JRD-MKJ has set the commercial and operational framework for a ₹40 crore rights issue, offering up to 1.60 crore shares at ₹25 each. The 145:100 entitlement ratio, November 11 record date and possible rise in outstanding shares to 2,69,75,625 are the principal facts for existing shareholders to consider.

The next disclosed milestone is the subscription period from November 19 to December 3, 2026. Investors can watch for updates on the issue process, subscription outcome and any further company disclosure on the application of the funds raised.