Tuni Textile Mills' rights issue fails due to low subscription

Tuni Textile Mills Limited announced the devolvement of its rights issue, citing a failure to achieve the minimum subscription requirement of 90% as mandated by SEBI regulations. The issue, which opened on November 24, 2025, and closed on December 23, 2025, aimed to raise up to ₹42,32,44,440 by offering 42,32,44,440 equity shares at an issue price of ₹1.00 per share. The rights entitlement ratio was 81 new equity shares for every 25 held by eligible shareholders as of the record date, November 15, 2025.

The company's board of directors approved the devolvement on December 24, 2025, confirming that no allotment of equity shares will proceed under this issue. Tuni Textile Mills Limited is now processing refunds and unblocking amounts for applicants. Instructions have been issued to the registrar and share transfer agent, Purva Sharegistry (India) Pvt. Ltd., to coordinate with banks for the refund process. The announcement was published in Financial Express (English), Jansatta (Hindi), and Lakshadweep (Marathi) newspapers on December 25, 2025.