Fundraising through rights issues has picked up after the Securities and Exchange Board of India’s (Sebi’s) updated regulations came into force in early April.
In May, four companies raised ₹4,188 crore via rights issues — the highest monthly total since January 2024. Key offers included Mahindra & Mahindra Financial Services (₹2,996 crore), Lloyds Engineering Works (₹987 crore), Max India (₹124 crore), and Avantel (₹81 crore). In April, Fusion Finance raised ₹800 crore. This month, at least six more rights issues — including UGRO Capital’s ₹400 crore offer — have opened for subscription.
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