EFC (I) Limited announces rights issue of 1.07 cr equity shares at ₹150/share

IPO / ECM 1 May 2026· ₹159.9 cr · Announced· ✓ Verified

The Board resolution, filed on 1 May 2026 with NSE, authorises issuance of 1,06,62,786 new equity shares on a rights basis (8 new shares for every 103 held), priced at ₹150 per share, generating gross proceeds of ₹159.94 crore. The announcement triggers statutory timelines for regulatory filings (SEBI disclosures, stock exchange circulars) and shareholder communication under the Companies (Share Capital and Debentures) Rules 2014. EFC (I) Limited, a PSU under the Ministry of Power, typically uses capital raises to support its core infrastructure/power sector operations.

Why it mattersRights issues under Companies Act 2013 s.62(1)(c) require shareholder approval at the prior AGM and strict pricing alignment with preferential issue norms; the 8:103 ratio suggests a specific strategic capital requirement or regulatory guidance on dilution thresholds.
CounselEFC (I) Limited (In-house Legal/Company Secretary)
SectorIndustrials
Value₹159.9 cr
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