Maha Rashtra Apex Corporation has announced its ₹14.09 crore rights issue opening on April 2, 2026, with the subscription period extending until April 30, 2026. According to reports from Mint, the company has set April 29, 2026 as the last date for market renunciation. The rights issue features a 1:1 entitlement ratio, meaning eligible shareholders can purchase one right equity share for every fully paid-up equity share held as of the record date of March 20, 2026. The deemed allotment date is scheduled for May 4, 2026, with equity shares expected to be credited to demat accounts on May 5, 2026 and listed on both NSE and BSE on May 6, 2026.
The rights issue involves 1,40,91,896 rights equity shares of face value ₹10 each, resulting in the total issue size of ₹14.09 crore. As reported by Mint, the rights issue price is set at a discount of approximately 80% compared to the last closing price of ₹49.80 on BSE on March 30, 2026. The full issue price of ₹10 per share is payable on application. Following completion of the rights issue, the company's outstanding shares will increase from 1.40 crore to 2.81 crore. The company is spending ₹0.40 crore for the RI process, with the net proceeds being utilized for debt repayment and corporate purposes.
According to the company's announcement reported by Mint, the funds raised from the rights issue will be utilized for reducing other current financial liabilities by repaying part of advances, depositing balance dues under the Scheme of Compromise & Arrangement, and general corporate purposes. The company is spending ₹1.16 crore for repaying part of advances to reduce other current liabilities, ₹12.25 crore for depositing balance dues under the scheme of compromise and arrangement, and ₹0.28 crore for general corporate purposes. The rights issue represents the company's first such offering, providing existing shareholders with an opportunity to acquire additional shares at a discounted price.
As reported by Mint, Maha Rashtra Apex Corporation shares have experienced mixed performance across different timeframes. The stock has lost 11% over the past year and 13% year-to-date, while showing a 30% decline over the last two years. However, on a longer-term basis, the small-cap stock has delivered 37% gains over five years and multibagger returns of 559% over the past decade. The scrip last closed on cum-right basis at ₹125.40 on March 19, 2026, and opened on an ex-right basis at ₹59.01 on March 20, 2026. Based on its last traded price, the RI is attractively priced at par with a discount of around 79.92%.
The rights issue comes amid unprecedented foreign investor outflows from Indian markets, with foreign portfolio investors selling equities worth over $13 billion (₹1.1 lakh crore) in just 27 days of March 2026 alone. As per latest data from the Government of India's Petroleum Planning and Analysis Cell, India's oil import dependency was 88.6% between April 2025 and January 2026, up from 88.2% in the corresponding period of the previous financial year. The ongoing geopolitical tensions, including the Israel-US-Iran War, have triggered a significant spike in global crude oil prices, with Brent Crude surpassing $115 per barrel in recent weeks. This has directly impacted India's economy, with the rupee depreciating from around ₹83 per dollar in early 2024 to nearly ₹94.65 per dollar by March 30, 2026, and sliding by more than 4% in just one month from ₹90.95 on February 27 to ₹94.65 on March 30. Meanwhile, private equity leaders at the Mint India Investment Summit in Mumbai highlighted that India is entering a buyout upcycle, driven by founder openness, bolt-on M&A and new liquidity tools, with more founders open to handing over control to institutional investors.
