Mumbai: Sylph Technologies Ltd has announced a Rights Issue of equity shares for its shareholders. As per the notice from the exchange, the company will issue 15 equity shares of Re.1 each for every 11 equity shares currently held by shareholders. This Rights Issue is being offered at par, which means the issue price is Re.1 per share, payable at the time of application.
The record date to determine eligible shareholders is April 18, 2025. However, the shares of the company will trade ex-rights from April 17, 2025. This means anyone buying the shares on or after April 17 will not be eligible to receive the Rights Issue.
The Rights Issue falls under the dematerialised securities – rolling settlement segment of the equity market. All trading members are advised to take note of the date and act accordingly.
The move is expected to help Sylph Technologies raise funds directly from its existing shareholders and strengthen its equity base.
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