Century Extrusions Ltd

Dematerialisation processing and listing status

• Securities received for dematerialisation were accepted or rejected by the RTA to the depositories.
• Dematerialised securities have been listed on the stock exchanges where the earlier issues are listed.
• Physical certificates for dematerialisation were mutilated and cancelled after verification; depository name substituted as registered owner.

Rating Action

• Long-term facilities: IVR BBB/Positive; outlook revised from Stable; rating reaffirmed.
• Short-term facilities: IVR A3+; rating reaffirmed.
• Total bank loan facilities: Rs 93.68 crore.
• Rating agency: Infomerics Valuation and Rating Limited.
• Outlook: Positive for long-term rating; overall reaffirmed.

Rights issue dispatch

• Completed dispatch of LOF, entitlement letters and application forms to eligible shareholders as on record date.
• Record date for the rights issue remains September 15, 2026.
• Rights issue at ₹15 per share (₹1 face, ₹14 premium), 3:8 ratio, up to ₹45 crore, partly paid-up.
• Dispatch completed on September 17, 2026 via email and speed post.
• Total eligible shareholders notified: 52,901 (48,018 email, 4,883 post).
• Dispatch per registrar MUFG Intime India Private Limited and SEBI/MCA guidelines.

Rating Action & Rationale

• Long-term facilities upgraded to IVR BBB/Positive; outlook Positive (from Stable).
• Short-term facilities reaffirmed at IVR A3+.
• Agency: Infomerics Valuation and Rating Ltd.
• Upgrade effective Sep 17, 2026; validity one year to Sep 16, 2027.
• Rationale cites FY26 and Q1 FY27 performance considerations.
• Material change: upgrade of long-term rating and outlook; short-term unchanged.

Issue details

• Rights issue: up to 3 crore partly paid shares at ₹15 (₹14 premium).
• Record date: 15 September 2026; rights ratio: 3 for every 8 shares.
• Payment terms: ₹7.5 on application, ₹7.5 via up to two calls by January 31, 2027.
• Net proceeds: ₹4,390 lakh after estimated issue expenses.

Proceeds & use of funds

• Net proceeds: ₹4,390 lakh after expenses.
• Use: ₹1,400 lakh debt repayment; ₹2,000 lakh working capital; ₹990 lakh general corporate.

Expansion & projects

• Kharagpur brownfield expansion adds 9,000 MT; commissioning October 2026.
• MOU with Odisha government for 30,000 MT Jharsuguda greenfield unit.

Approvals & timeline

• LOF approved by Board on 8 September 2026.
• In-principle listing approvals from BSE and NSE received on 5 August 2026.

Issue overview

• Rights issue up to 3,00,00,000 partly paid-up shares at ₹15 each (₹4,500 lakh).
• Rights ratio: 3 rights for every 8 existing shares; record date Sept 15, 2026.
• Issue opens Sept 23, 2026; closes Oct 14, 2026; listing targeted Oct 19, 2026.
• Rights Entitlements credited to demat accounts; on-market and off-market renunciation permitted.
• In-principle approvals from BSE/NSE dated Aug 5, 2026; Designated Stock Exchange: BSE.

Proceeds and use of funds

• Net proceeds: ₹4,390 lakh after estimated issue expenses ₹110 lakh.
• ₹1,400 lakh to repay unsecured borrowings; ₹2,000 lakh for working capital at Kharagpur.
• ₹990 lakh for general corporate purposes; cap limited to 25% of gross proceeds.
• Net proceeds to be deployed in FY2026-27; deployment may be revised by Board.

Capital structure

• Pre-issue equity capital: ₹8.0 crore; Rights issue up to ₹4.5 crore aggregate value.
• Rights shares: up to 3.0 crore partly paid-up; ₹1.50 crore paid-up currently.
• If fully paid, post-issue paid-up capital rises to ₹9.5 crore.
• Share premium would rise from ₹9.9 crore to ₹30.9 crore post-issue; up to ₹51.9 crore after calls.

Governance

• Board: 5 directors; 1 executive MD; 1 non-exec non-independent; 3 independent.
• Promoter MD Vikram Jhunjhunwala resigned 02-06-2025; Shivanshu Jhunjhunwala appointed 03-06-2025.
• Independent Director Charan Singh appointed 23-06-2026.
• Key management: CFO Nitesh Kumar Kyal; Company Secretary Rajan Singh.

Approvals & timing

• ISIN for Rights Entitlements: INE281A20018; credit via MUFG Intime; trading via SCSBs.
• Rights Entitlements to be credited to demat accounts before opening; listing approvals to be obtained.
• Issue period may be extended up to 30 days from opening date; no withdrawal after closing date.

Risks & investor considerations

• Right entitlements may lapse if not exercised by the Issue Closing Date.
• Subscription levels, regulatory changes, or market conditions may affect outcomes.
• Working capital intensity and dependence on raw material supply could impact execution.

Rights issue terms and record date

• Board approved terms of the Rights Issue for up to ₹4500 lakhs.
• Record date fixed as 15 September 2026 to determine entitlement.
• Rights Entitlements will be credited in demat form; ISIN INE281A20018.
• Credit arrangements made with NSDL and CDSL for eligible shareholders.

Rights issue terms approved

• Instrument: partly paid-up equity shares of ₹0.5 each.
• Total shares: 3,00,00,000 equity shares of ₹1 face with ₹14 premium.
• Aggregate size: up to ₹4500 Lakhs (₹45 crore) assuming full subscription.
• Rights issue price: ₹15 per share, including ₹14 premium.
• Record date: 15 September 2026.
• Opening date: 23 September 2026; Closing date: 14 October 2026.
• Rights entitlement: 3 rights shares for every 8 fully paid shares.
• ISIN: INE281A20018; entitlements credited in demat before opening.
• Credit arrangements with NSDL/CDSL for demat credits.
• Annexure-A provides regulatory details under Regulation 30.