Maha Rashtra Apex Corporation Allots 14,091,896 Equity Shares in Rights Issue
Maha Rashtra Apex Corporation Limited announced the allotment of 1,40,91,896 equity shares to successful applicants following the company's rights issue. The allotment was finalized on May 04, 2026, concluding the subscription process that ran from April 02, 2026, to April 30, 2026.The rights issue involved the issuance of 1,40,91,896 equity shares, each with a face value and issue price of Rs. 10, aggregating to Rs. 14,09,18,960 on a rights basis. Existing equity shareholders were given the right to subscribe to one rights equity share for every one fully paid-up equity share they held as of the record date, March 20, 2026.
Subscription and Allotment Summary
The company's board noted a high level of investor interest, with a total of 2,679 applications received for the shares through the Application Supported by Blocked Amount (ASBA). The total number of shares applied for was 71,778,111, representing 100% of the available shares.The data regarding the total number of applications received is detailed below:
| Category | Number of Applications Received | Percentage (%) | Equity Shares Applied For | Equity Shares Applied For (Value) | Percentage (%) | Equity Shares Allotted (Number) | Equity Shares Allotted (Value) | Percentage (%) |
|---|---|---|---|---|---|---|---|---|
| Eligible Equity Shareholders | 2183 | 81.48 | 70,414,148 | Rs. 704,141,480 | 98.10 | 13,959,833 | Rs. 139,598,330 | 99.06 |
| Renounces | 94 | 3.50 | 1,064,971 | Rs. 10,649,710 | 1.48 | 132,063 | Rs. 13,206,30 | 0.94 |
| Not an eligible shareholder | 402 | 15.00 | 2,989,920 | Rs. 2,989,920 | 0.42 | 0 | Rs. 0 | 0.00 |
| Total | 2679 | 100.00 | 71,778,111 | Rs. 717,781,110 | 100 | 14,091,896 | Rs. 140,918,960 | 100 |
The table below outlines the basis of allotment based on the valid applications considered:
| Category | Valid Applications Received for Allotment | Shares Allotted Against Rights Entitlements (A) | Shares Allotted Against Additional Equity Shares (B) | Total Equity Shares Allotted (A+B) |
|---|---|---|---|---|
| Eligible Equity Shareholders | 2158 | 11,001,739 | 2,958,094 | 13,959,833 |
| Renounces | 93 | 132,063 | 0 | 132,063 |
| Total | 2251 | 11,133,802 | 2,958,094 | 14,091,896 |
Listing and Trading Details
The company confirmed that the dispatch of allotment advice and refund intimation to investors was completed on Thursday, May 07, 2026.The listing and trading approvals were received on Wednesday, May 06, 2026. The rights equity shares allotted in the issue are expected to commence trading on both the BSE Limited and NSE Limited on or about Tuesday, May 12, 2026. The shares will trade under the same ISIN INEB43B01013 as the existing equity shares.
MAHAPEXLTD Stock Price Movement
On Friday, Maha Rashtra Apex Corporation Limited shares slipped by 3.25% to settle at ₹53.34, finishing significantly below its previous closing level. Trading volume for the session was substantial, clocking in at 25,399 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.