News

Astec LifeSciences launches ₹249.35-crore rights issue at ₹890/shareThe rights issue will open on Monday, July 14 and close on Monday, July 28, with the last date for on-market renunciation set for Tuesday, July 22. Shares of Astec LifeSciences Limited ended at ₹927.95, down by ₹10.60, or 1.13%, on the BSE.By Jomy Jos Pullokaran   June 30, 2025, 7:48:11 PM IST (Published)2 Min ReadAstec LifeSciences Limited on Monday (June 30) announced a rights issue of equity shares worth ₹249.35 crore, following board approval. The issue comprises 28,01,673 fully paid-up equity shares at a price of ₹890 per share, including a premium of ₹880. The offer is made on a rights basis to existing shareholders in the ratio of 1:7.

The record date to determine shareholders eligible for the rights entitlement is Friday, July 4, 2025. The rights issue will open on Monday, July 14 and close on Monday, July 28, with the last date for on-market renunciation set for Tuesday, July 22. Off-market transfers must be completed in time to ensure the credit of rights entitlements before the closing date.

Pre-issue, the company’s outstanding equity shares stood at 1,96,11,710. Upon full subscription, post-issue equity will rise to 2,24,13,383 shares. The board retains the authority to extend the issue period, subject to a maximum window of 30 days from the opening date.

Also Read: Astec Lifesciences shares drop most in nearly three years after earnings miss

A rights issue is a fundraising exercise where the company offers existing shareholders a chance to buy shares of the company at a discounted price. Shareholders who do not have shares of the company as on the record date are not eligible to participate in the rights issue.

In the March quarter results, Astec Lifesciences' consolidated net loss increased to ₹16.08 crore in Q4FY25 against a net loss of ₹0.96 crore in the same quarter last year. Its topline also declined by 22% on a year-on-year basis.

Astec Lifesciences is a subsidiary of Godrej Agrovet. Shares of Astec LifeSciences Limited ended at ₹927.95, down by ₹10.60, or 1.13%, on the BSE.

Also Read: Adi Godrej and family makes open offer to acquire 26% stake in Astec LifesciencesContinue Reading(Edited by : Shoma Bhattacharjee)Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsAstec Lifesciencesshare market today