₹14.09 Crores | Listing at BSE, NSE | Thu, Apr 2, 2026 - Thu, Apr 30, 2026
Maha Rashtra Apex Corporation Limited Rights Issue comprises 1.41 Cr equity shares aggregating to ₹14.09 Cr, offered at an issue price of ₹10 per share with a face value of ₹10 per share.
The record date for determining eligible shareholders is Mar 20, 2026, with the Rights Issue being offered in the entitlement ratio of 1:1.
As per the terms of payment, ₹10 per share payable in full at the time of application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Mar 23, 2026.
The Rights Issue opens on Apr 2, 2026 and closes on Apr 30, 2026.
The deemed date of allotment is May 4, 2026, following which the equity shares are expected to be credited to demat accounts on May 5, 2026 and listed on NSE and BSE on May 6, 2026.
Purva Sharegistry (India) Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Maha Rashtra Apex Corporation Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Mar 20, 2026
Entitlement Ratio
1 : 1
Open Date
Thu, Apr 2, 2026
Close Date
Thu, Apr 30, 2026
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Income | 1.92 | 7.91 | 10.83 |
| Profit After Tax | -6.82 | 335.72 | -38.95 |
| NET Worth | 409.72 | 465.84 | 445.94 |
| Reserves and Surplus | 445.09 | 451.72 | 431.82 |
| Amount in ₹ Crore | |||
Incorporated in 1943 as Maharashtra Apex Bank Ltd by Upendra Anantha Pai, it is an old Non-Banking Financial Company (NBFC) based in Manipal, Karnataka, part of the Manipal Group. Historically engaged in hire purchase, leasing, and automobile financing, it is now primarily focused on asset recovery and repayment of liabilities under a court-sanctioned scheme, while being almost debt-free.
The company is currently focused on recovering assets and repaying liabilities, including outstanding deposits and bonds.
It is a flagship company of the Manipal Group, headquartered in Manipal, Karnataka.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To reduce the other current financial liabilities by repaying part of the advances | 1.16 |
| 2 | To deposit any balance dues under the Scheme of Compromise and Arrangement | 12.25 |
| 3 | General corporate purposes | 0.28 |
| Total | 13.69 |
[Dilip Davda] MRACL was an RBI registered NBFC, relinquished its business post cancellation of its registration. It was engaged in hire purchase, leasing, loans etc. earlier. Now it has reduced its business and focusing only on recovery of dues from its earlier businesses outstanding. The company has reported erratic financial performances for the reported periods. Based on its last traded price, the RI is attractively priced at par with a discount of around 80%. Only well-informed/cash surplus investors may park funds for long term. Read detail review...
Maha Rashtra Apex Corporation Rights Issue 2026 got oversubscribed by 5.1 times by the end of the bidding period with total bid quantity received by BSE and NSE of 7,19,13,614 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | NSE Bid Quantity | Total Bid Quantity | Subscription Times |
|---|---|---|---|---|
Apr 30 2026 17:00:00 | 2,42,82,396 | 4,76,31,218 | 7,19,13,614 | 5.10x |
Maha Rashtra Apex Corporation Limited
3 rd Floor, Front Wing North Block,
Manipal Centre, #47
Dickenson Road
Bengaluru, 560001
Purva Sharegistry (India) Pvt.Ltd.
The Maha Rashtra Apex Corporation Rights Issue 2026 opens on Thu, Apr 2, 2026, and closes on Thu, Apr 30, 2026.
Maha Rashtra Apex Corporation Rights Issue 2026 Schedule
| Last Date for credit of Rights Entitlements | Mon, Mar 23, 2026 |
| Last Date for renunciation of Rights Entitlements | Wed, Apr 29, 2026 |
| Issue Opening Date | Thu, Apr 2, 2026 |
| Issue Closing Date | Thu, Apr 30, 2026 |
| Date of Allotment (on or about) | Mon, May 4, 2026 |
| Date of Credit (on or about) | Tue, May 5, 2026 |
| Date of Listing (on or about) | Wed, May 6, 2026 |
You can apply for Maha Rashtra Apex Corporation Rights Issue 2026 in two ways:
Steps to apply for Maha Rashtra Apex Corporation Rights Issue 2026 using Net Banking (ASBA)
Steps to apply for Maha Rashtra Apex Corporation Rights Issue 2026 using Registrar's website (R-WAP)
