DIIs bought 35,49,755 shares & FIIs bought 16,681 shares: Auto company announces 1:11 rights issue; Complete details inside!

JTEKT India Limited's Board of Directors has approved the terms for a Rights Issue aiming to raise up to Rs 250 crore. This decision follows in-principle approvals from BSE and NSE received on July 17, 2025. The Rights Issue will consist of 2,31,16,407 fully paid-up Equity Shares with a face value of Re 1 each, offered at a price of Rs 108.10 per share (including a premium of Rs 107.10). The entire issue price will be payable at the time of application. As a result of this issue, the total outstanding equity shares of the company will increase from 25,42,80,483 to 27,73,96,890, assuming full subscription.

The Record Date for determining eligible shareholders for the Rights Entitlement (REs) is Friday, July 25, 2025. Eligible shareholders will receive one rights equity share for every eleven fully paid-up equity shares they hold. The Rights Issue will open on Monday, August 4, 2025, with the last date for on-market renunciation of REs being Thursday, August 7, 2025, and off-market renunciation by Monday, August 11, 2025. The issue is scheduled to close on Tuesday, August 12, 2025, though the Board reserves the right to extend this, provided the issue period does not exceed 30 days. RE holders can apply for the Rights Issue or renounce their REs, but any REs for which no application is made by the closing date will lapse.

JTEKT India Ltd specialises in manufacturing steering systems and other auto components for passenger cars and utility vehicles. Their product portfolio is dominated by Steering & Columns, accounting for approximately 96 per cent of their business, and includes various manual, hydraulic, and electric power steering systems, as well as steering columns and intermediate shafts. The remaining 4 per cent of their business comprises Driveline Products, such as case differentials, axle components, rear axle assemblies, propeller shafts, and constant velocity joints.

The company has a market cap of over Rs 3,600 crore. In June 2025, DIIs bought 35,49,755 shares & FIIs bought 16,681 shares and increased their stake to 10.70 per cent and 0.46 per cent, respectively, compared to March 2025. The stock is up by 34 per cent from its 52-week low of Rs 106.90 per share.

Disclaimer: The article is for informational purposes only and not investment advice.