Shraddha Prime Projects Announces ₹96.96 Cr Rights Issue

Shraddha Prime Projects Limited announced the terms of its proposed Rights Issue aggregating to approximately ₹96.96 crore. The issue comprises 60,60,150 Equity Shares of face value ₹10 each at an issue price of ₹160 per Equity Share, including a premium of ₹150 per share. Eligible shareholders will be entitled to subscribe to 3 Rights Equity Shares for every 20 existing Equity Shares held as on the Record Date of October 15, 2026. ₹144 per share will be payable on application, with the balance ₹16 per share payable on a subsequent call. The proceeds will primarily support working capital requirements and enable the company to maintain adequate liquidity for ongoing developments and its expanding project pipeline. GYR Capital Advisors Pvt. Ltd. has been appointed as the Merchant Banker to the Issue.