Gravity India Limited Finalizes Rights Issue Terms

Gravity India Limited has successfully concluded its Rights Issue Committee meeting on April 1, 2026, finalizing the comprehensive terms for its rights offering. The committee, which convened at 10:45 AM at the company's registered office in Bhiwandi, Thane, approved the detailed framework for the Rs. 69.01 crore rights issue that was initially approved by the Board of Directors on February 25, 2026.

Rights Issue Terms Finalized

The Rights Issue Committee has established the complete structure for the equity share offering, with key parameters now confirmed:

Parameter: Details Total Issue Size: Rs. 69,01,49,500 Number of Shares: 6,90,14,950 fully paid-up equity shares Issue Price: Rs. 10.00 per share Face Value: Rs. 10.00 per equity share Rights Ratio: 23 equity shares for every 3 shares held Record Date: Wednesday, April 8, 2026

Issue Timeline and Schedule

The committee has established a comprehensive timeline for the rights issue process, ensuring adequate time for shareholder participation:

Timeline: Date Record Date: Wednesday, April 8, 2026 Rights Issue Opening: Monday, April 27, 2026 Last Date for Market Renunciation: Tuesday, May 19, 2026 Rights Issue Closing: Monday, May 25, 2026

Eligible equity shareholders as of the record date will receive rights entitlements in their demat accounts prior to the issue opening date, in accordance with SEBI regulations.

Share Capital Impact

The rights issue will significantly expand Gravity India Limited's equity base upon successful completion:

Share Capital: Number of Shares Current Outstanding Shares: 90,01,950 equity shares Rights Issue Shares: 6,90,14,950 equity shares Post-Issue Total (Full Subscription): 7,80,16,900 equity shares

Payment Structure

The committee has established a straightforward payment mechanism for the rights issue. The entire Rs. 10.00 per share will be payable on application, with no premium component. The company retains the option to make subsequent calls as determined by the Board at its discretion.

Regulatory Compliance

The rights issue will be conducted in full compliance with the Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made necessary arrangements with NSDL and CDSL for credit of rights entitlements in dematerialized form.

The committee meeting, which commenced at 10:45 AM, concluded at 11:15 AM after approving the Letter of Offer, Application Form, and Rights Entitlement Letter to be filed with BSE Limited. The detailed terms and application procedures will be specified in the Letter of Offer to be filed with BSE and SEBI.

Gravity (India) Limited has secured a crucial regulatory milestone by obtaining in-principle approval from BSE Limited for its proposed rights issue of fully paid-up equity shares. The company announced this development through a regulatory filing dated March 17, 2026, marking a significant step forward in its capital raising initiative.

BSE Approval Details

The approval was granted through BSE's official communication dated March 16, 2026, with reference number LOD/RIGHT/HC/FIP/1893/2025-26. This follows the company's initial application submitted to the exchange on February 25, 2026.

Parameter: Details Approval Date: March 16, 2026 Application Date: February 25, 2026 Reference Number: LOD/RIGHT/HC/FIP/1893/2025-26 Securities Type: Fully paid-up Equity Shares

Exchange Permissions and Conditions

BSE Limited has granted permission for the company to use the exchange's name in its Letter of Offer for the rights issue. However, this permission comes with specific conditions that must be strictly adhered to:

Disclaimer Requirements: The company must include BSE's mandatory disclaimer clause in its Letter of Offer after SEBI's disclaimer clause

Advertisement Compliance: All advertisements related to the rights issue mentioning BSE's name must carry the prescribed disclaimer

Record Date Notice: A record date must be fixed with at least three working days advance notice to the exchange

Price Disclosure: The rights issue price must be disclosed at least three working days prior to the record date

Regulatory Compliance Framework

The exchange has outlined comprehensive compliance requirements that Gravity India must fulfill before proceeding with the rights issue. These include completing all legal and statutory formalities, ensuring proper disclosure in offer documents, and taking full responsibility for any consequences arising from non-disclosure or misstatement of information.

Key Compliance Requirements:

Confirmation of Letter of Offer posting completion

Agreements with all depositories for dematerialization of securities

Basis of Allotment approval from the Designated Stock Exchange

Appointment of qualified Company Secretary as Compliance Officer

Payment of all applicable exchange charges

Company Leadership

The regulatory filing was signed by Mukesh Mahendrabhai Parmar, Managing Director of Gravity (India) Limited, with DIN: 11473295. The digital signature was applied on March 17, 2026, confirming the company's formal acknowledgment of the BSE approval.

Exchange Disclaimer and Investor Advisory

BSE Limited has clearly stated that its permission should not be construed as clearance or approval of the Letter of Offer. The exchange explicitly disclaims any warranty regarding the correctness or completeness of the offer contents and does not take responsibility for the company's financial soundness or management decisions. Investors are advised to conduct independent inquiry and analysis before making any investment decisions.

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