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📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
1,000+ announcements match the current filters (relevance ≥ 5).
TI's Mansion House Brandy Ranks 2nd Globally; Company Hits Record Monthly Sales in May 2026
Tilaknagar Industries (TI) has achieved significant global recognition with Mansion House Brandy becoming the world's second-largest brandy brand, selling 9.7 million cases in 2025 with 24.4% growth. The company also reported its highest-ever monthly sales in May 2026, bolstered by the successful integration of Imperial Blue Whisky, which now ranks as the 9th highest-selling spirits brand globally. These milestones reflect TI's strengthening market position in the Indian IMFL sector, specifically within the brandy and whisky categories which dominate 85% of the domestic market.
Key Highlights
Mansion House Brandy sold 9.7 million cases in 2025, recording 24.4% YoY growth to become the 2nd largest brandy globally.
Imperial Blue Whisky achieved its highest-ever monthly sales under TI ownership in May 2026.
Tilaknagar Industries recorded its highest-ever total monthly sales across its portfolio in May 2026.
Courrier Napoleon Brandy ranked 8th globally in the brandy category with 1.5 million cases sold in 2025.
Mansion House Brandy is now the 3rd fastest-growing spirits brand among the world's top 25 brands.
👀 What to Watch
Investors should view the record sales and global brand rankings as a sign of strong operational execution and brand equity. Monitor the company's ability to maintain this volume growth while transitioning towards higher-margin premium segments.
Bharti Airtel Shareholders Approve Africa Stake Consolidation with 99.99% Majority
Bharti Airtel shareholders have overwhelmingly approved a proposal to consolidate its stake in Airtel Africa plc through a cashless share-swap transaction. The company will issue equity shares on a preferential basis to a promoter group entity, Indian Continent Investment Limited, in exchange for its 16.31% stake in the African subsidiary. This transaction will increase Airtel's effective stake in Airtel Africa to approximately 79% without any cash outflow or incremental leverage. The resolution received 99.9875% support, reflecting strong institutional and public investor confidence in the strategic rationale.
Key Highlights
Shareholders approved the preferential share issuance with a 99.9875% majority vote.
The transaction involves a share swap for a 16.31% stake in Airtel Africa plc, increasing Airtel's effective ownership to ~79%.
Structured as a cashless deal, the consolidation requires no cash outflow or additional debt for Bharti Airtel.
Public institutional investors showed near-unanimous support with 99.97% of their votes cast in favor.
The move simplifies the Group's shareholding structure and increases economic interest in a high-growth strategic asset.
👀 What to Watch
Investors should view this as a value-accretive move that strengthens the company's hold on its high-growth African operations without impacting liquidity. Maintain a positive outlook as the transaction simplifies corporate structure and enhances long-term earnings potential from the African segment.
Bharti Airtel Shareholders Approve 16.31% Airtel Africa Stake Consolidation via Share Swap
Bharti Airtel shareholders have overwhelmingly approved a preferential share issuance to a promoter group entity, Indian Continent Investment Limited, with a 99.99% majority. This cashless share-swap transaction allows Bharti Airtel to acquire a 16.31% stake in its subsidiary, Airtel Africa plc, without any cash outflow or incremental leverage. Upon completion, Bharti Airtel's effective stake in the high-growth African asset will increase to approximately 79%, simplifying the group's shareholding structure.
Key Highlights
Shareholders approved the preferential equity issuance with 99.9875% of total votes in favor.
The transaction involves a cashless swap for a 16.31% stake in Airtel Africa plc held by a promoter entity.
Bharti Airtel's effective ownership in Airtel Africa will rise to approximately 79% post-transaction.
The deal preserves capital strength for core operations by avoiding debt or cash expenditure for the acquisition.
A total of 5,644,871,964 votes were polled during the Extraordinary General Meeting held on June 12, 2026.
👀 What to Watch
Investors should view this as a strategic positive as it increases exposure to a high-growth subsidiary while maintaining capital efficiency. No immediate action is required, but monitor for final regulatory approvals to complete the stake consolidation.
Thirumalai Chemicals Shareholders Approve $140M Loan Security for US Subsidiary
Thirumalai Chemicals Limited has received shareholder approval via postal ballot to secure loan facilities of up to USD 140 million for its US-based double step-down subsidiary, TCL Specialties LLC. The security involves pledging 100% equity of TCL Inc. and TCL Specialties LLC by their respective parent subsidiaries, along with a charge on the assets of the US entity. The special resolution passed with an overwhelming 99.76% majority, reflecting strong investor confidence in the company's international expansion strategy. This financing is critical for the group's capital expenditure and operational growth in the North American market.
Key Highlights
Approved creation of security for loan facilities up to USD 140 million for US-based TCL Specialties LLC.
TCL Global BV (Netherlands) to pledge 100% holding in TCL Inc. (USA) as collateral.
TCL Inc. (USA) to pledge 100% holding in TCL Specialties LLC as part of the security package.
The Special Resolution was passed with 99.76% of valid votes (58,910,806 shares) in favor.
The funding is intended to support the company's strategic growth and asset creation in its US operations.
👀 What to Watch
Investors should monitor the progress of the US project and the impact of the $140M debt on the company's consolidated balance sheet and interest coverage ratios.
Bharti Airtel EGM Approves Preferential Share Issue to ICIL via Airtel Africa Share Swap
Bharti Airtel held an Extraordinary General Meeting on June 12, 2026, to seek shareholder approval for a preferential issuance of equity shares to Indian Continent Investment Limited (ICIL), a promoter group entity. The transaction involves a share swap where ICIL will transfer its holdings in Airtel Africa plc, a subsidiary, to Bharti Airtel. The meeting was attended by 241 members representing 48.93% of the total equity paid-up capital. This move is designed to consolidate the company's ownership in its African operations through a non-cash equity issuance.
Key Highlights
EGM held on June 12, 2026, to approve preferential equity issuance to promoter group entity ICIL.
The issuance is a swap for shares held by ICIL in the subsidiary Airtel Africa plc.
241 members participated, representing 2,981,723,443 equity shares or 48.93% of paid-up capital.
Remote e-voting was conducted between June 08 and June 11, 2026, with final results pending formal submission.
The proposal aims to simplify the group structure and increase the parent's stake in its African business.
👀 What to Watch
Investors should monitor the final voting results and the specific valuation ratio of the swap to evaluate the impact on equity dilution and promoter holding levels.
Motilal Oswal Family Trust Declares Zero Encumbered Shares for FY26
Motilal Oswal Family Trust, a promoter of Motilal Oswal Financial Services Limited, has filed a declaration under SEBI Takeover Regulations for the financial year ended March 31, 2026. The trust and its persons acting in concert (PAC) confirmed that no shares were encumbered, directly or indirectly, during the period. The trust remains the largest promoter entity with a 20.63% stake, equivalent to 12,41,81,133 shares. This annual disclosure provides transparency regarding the lack of promoter share pledging, which is a positive sign of financial stability.
Key Highlights
Motilal Oswal Family Trust holds 12,41,81,133 shares representing a 20.63% stake in the company.
Promoter group declared zero encumbrance (pledge) on shares for the financial year ended March 31, 2026.
Pratik Motilal Oswal holds the second-largest individual promoter stake at 4.47% (2,68,92,103 shares).
Motilal Gopilal Oswal holds a 2.25% stake (1,35,12,716 shares) in his individual capacity.
The disclosure covers 13 promoter group members and entities, ensuring compliance with SEBI (SAST) Regulations.
👀 What to Watch
Investors should view this as a positive confirmation of the promoter group's financial health, as zero share pledging reduces the risk of forced selling during market volatility.
Shakti Pumps Invests ₹10 Cr in Subsidiary for 2.20 GW Solar Cell & Module Plant
Shakti Pumps (India) Limited has invested ₹10 Crores in its wholly-owned subsidiary, Shakti Energy Solutions Limited (SESL), to facilitate the establishment of a greenfield manufacturing plant. The new facility in Pithampur, Madhya Pradesh, will produce high-efficiency Solar DCR cells and Solar PV modules with a massive capacity of 2.20 GW. SESL has demonstrated strong financial growth, with its turnover rising from ₹139.59 Crores in FY24 to ₹239.11 Crores in FY26. This investment signifies the parent company's commitment to vertical integration and scaling its solar energy infrastructure capabilities.
Key Highlights
Investment of ₹10 Crores into wholly-owned subsidiary Shakti Energy Solutions Limited (SESL).
Setting up a greenfield Solar DCR cell and Solar PV modules plant with 2.20 GW capacity.
SESL turnover grew from ₹139.59 Crores in FY24 to ₹239.11 Crores in FY26.
The project is located in Pithampur, Madhya Pradesh, focusing on high-efficiency solar components.
Investment made through equity shares to fund expansion into solar manufacturing.
👀 What to Watch
Investors should view this as a positive long-term growth driver, as the 2.20 GW capacity addition significantly expands the company's addressable market in the solar value chain.
TICL Promoter Confirms Nil Encumbrance; 1.20 Cr Shares Released from Pledge in FY26
Tarun Chaturvedi, a promoter of Twamev Construction and Infrastructure Limited (TICL), has filed a disclosure under Regulation 31(4) of SEBI SAST Regulations for the financial year ended March 31, 2026. The promoter confirmed that a pledge on 1,20,07,607 equity shares created during the year has been fully released. As of the year-end, the total promoter and Persons Acting in Concert (PAC) group holds 13,02,98,301 shares, representing 84.08% of the company, with zero encumbrances. Major stakeholders include Ravi Todi (31.79%) and Tarun Chaturvedi (13.76%).
Key Highlights
Promoter group confirms 0% encumbrance on their total 84.08% stake as of March 31, 2026.
A significant pledge of 1,20,07,607 shares was created and subsequently released during FY 2025-26.
Total promoter and PAC shareholding stands at 13,02,98,301 equity shares.
Ravi Todi is the largest shareholder in the promoter group with 4,92,72,278 shares (31.79%).
Institutional-style holdings within PAC include GEO Infrastructure Advisory LLP (12.90%) and Upendra Singh Constructions Pvt Ltd (12.50%).
👀 What to Watch
The release of the share pledge and the maintenance of a high promoter holding (84.08%) are positive indicators of promoter confidence and financial health. Investors should continue to monitor the company's execution in the infrastructure sector.
Motisons Jewellers Allots 13.57 Cr Shares via QIP to Raise ₹150 Crore at ₹11.05/Share
Motisons Jewellers Limited has successfully completed a Qualified Institutions Placement (QIP), raising approximately ₹150 crore. The company allotted 13,57,46,600 equity shares at an issue price of ₹11.05 per share, which included a 4.57% discount to the floor price. Major institutional participants include Pine Oak Global Fund, Mint Focused Growth Fund, and Saint Capital Fund, each securing 16.67% of the total issue. This capital infusion has increased the company's paid-up equity share capital from ₹100.18 crore to ₹113.75 crore.
Key Highlights
Raised ₹149.99 crore through the allotment of 13,57,46,600 equity shares to Qualified Institutional Buyers.
Issue price set at ₹11.05 per share, representing a discount of ₹0.53 (4.57%) to the floor price of ₹11.58.
Post-issue paid-up equity capital stands increased to ₹113.75 crore consisting of 113.75 crore shares of ₹1 each.
Six major institutional investors accounted for over 80% of the total shares offered in the QIP.
Top allottees include Pine Oak Global Fund, Mint Focused Growth Fund, and Saint Capital Fund with 16.67% allocation each.
👀 What to Watch
Investors should view the successful institutional fundraise as a positive validation of the company's growth prospects, though they should account for the ~13.5% equity dilution. Monitor the company's upcoming disclosures regarding the specific utilization of these funds for expansion or debt reduction.
Integra Essentia Allots 68.76 Cr Equity Shares via Rights Issue at Rs 1.45 per Share
Integra Essentia Limited has finalized the allotment of 68,75,92,710 fully paid-up equity shares through its Rights Issue. The shares were issued at a price of Rs 1.45 each, which includes a face value of Re 1 and a premium of Rs 0.45. Consequently, the company's total paid-up capital has increased to 175,52,83,254 shares. This allotment follows the basis of allotment approved by BSE Limited as the designated stock exchange.
Key Highlights
Allotment of 68,75,92,710 fully paid-up Rights Equity shares approved on June 11, 2026.
Issue price set at Rs 1.45 per share, including a premium of Rs 0.45.
Post-allotment paid-up capital stands increased to 175,52,83,254 shares.
The allotment process was based on the Letter of Offer dated May 14, 2026.
👀 What to Watch
Investors should note the significant equity dilution resulting from this large allotment and monitor the company's utilization of the raised funds to drive future earnings growth.
Avanti Feeds Q4 FY26 PAT Falls 11.7% YoY to ₹1,389 Mn Despite 6% Revenue Growth
Avanti Feeds Limited reported a mixed performance for Q4 FY26, with consolidated revenue growing 6.2% YoY to ₹14,677 Mn, primarily driven by a 22.2% surge in the shrimp processing segment. However, consolidated PAT for the quarter declined by 11.7% YoY to ₹1,389 Mn as margins were pressured by elevated raw material costs in the shrimp feed business. On a full-year basis, the company showed resilience with FY26 PAT growing 17.9% to ₹6,568 Mn and EBITDA margins expanding by 130 bps to 15.6%.
Key Highlights
Q4 FY26 consolidated revenue rose 6.2% YoY to ₹14,677 Mn, while full-year FY26 revenue reached ₹60,673 Mn.
Quarterly PAT declined 11.7% YoY to ₹1,389 Mn, with net profit margins contracting from 11.4% to 9.5% YoY.
Shrimp processing segment revenue grew 22.2% YoY in Q4 to ₹4,275 Mn, aided by better price realization and favorable FX rates.
Shrimp feed segment revenue remained nearly flat in Q4 at ₹10,402 Mn, impacted by rising raw material prices.
Full-year FY26 EPS improved to ₹44.48 compared to ₹38.81 in the previous fiscal year.
👀 What to Watch
Investors should monitor the volatility in raw material costs which is currently impacting the core feed segment's margins, while the robust growth in the processing and export division remains a positive long-term catalyst.
Motisons Jewellers Closes QIP; Allocates 13.57 Cr Shares at ₹11.05 per Share
Motisons Jewellers Limited has successfully closed its Qualified Institutions Placement (QIP) on June 11, 2026. The company approved the allocation of 13,57,46,600 equity shares at an issue price of ₹11.05 per share, raising approximately ₹150 crore. The issue price reflects a 4.57% discount to the floor price of ₹11.58 per share. This capital infusion is intended to strengthen the company's financial position and support its growth objectives.
Key Highlights
Approved the closure of the QIP issue on June 11, 2026, following receipt of funds from QIBs.
Allocated 13,57,46,600 equity shares of face value ₹1 each.
Set the issue price at ₹11.05 per share, which includes a premium of ₹10.05 per share.
The issue price represents a discount of 4.57% (₹0.5292) to the floor price of ₹11.58.
Total fundraise amount is approximately ₹150 crore based on the allocated shares and price.
👀 What to Watch
Investors should track the company's utilization of the ₹150 crore proceeds for expansion or debt reduction. While the equity dilution is significant, the successful QIP indicates strong institutional interest in the company's growth story.
ITI Receives Listing Approval for 19.65 Lakh Equity Shares Issued to Promoters at Rs 300.25
ITI Limited has secured listing approvals from both BSE and NSE for the allotment of 19,65,029 equity shares. These shares were issued to the company's promoters on a preferential basis at an issue price of Rs. 300.25 per share, which includes a premium of Rs. 290.25. This move results in a capital infusion of approximately Rs. 59 crore into the company. The shares will be officially admitted for trading following the completion of depository credit formalities with NSDL and CDSL.
Key Highlights
Received listing approval for 19,65,029 equity shares of Rs. 10 face value each.
Shares were issued at a premium of Rs. 290.25, totaling an issue price of Rs. 300.25 per share.
The allotment was made to the company's promoters on a preferential basis.
Approvals received from BSE (LOD/PREF/MV/FIP/358/2026-27) and NSE (NSE/LIST/53986) on June 10, 2026.
Distinctive numbers for the new shares range from 960886939 to 962851967.
👀 What to Watch
Investors should note the promoter's capital infusion as a sign of confidence in the company's long-term prospects. While this leads to minor equity dilution, the strengthened capital base is a positive development for the company's balance sheet.
Prestige Group Partners with BACL for Integrated Destination at Bengaluru Airport City
Prestige Group has entered into a strategic partnership with Bengaluru Airport City Limited (BACL) to develop a large-scale integrated destination featuring a world-class convention centre, luxury hotels, and premium office spaces. The project will house globally renowned hospitality brands St. Regis and Marriott Marquis, targeting international business travelers and event organizers. As of March 2026, Prestige Group maintains a massive pipeline of 135 projects spanning 227 million sqft, and this development significantly enhances its commercial and hospitality portfolio. This move aligns with the company's strategy to create destination-defining assets in high-growth corridors like the Bengaluru airport region.
Key Highlights
Partnership with BACL to develop an integrated business, hospitality, and cultural hub at Bengaluru Airport City.
Project includes luxury hospitality brands St. Regis and Marriott Marquis alongside a state-of-the-art convention centre.
Prestige Group's total project pipeline stands at 135 projects across 227 million sqft as of March 2026.
The development aims to capitalize on Bengaluru's innovation hub status to drive business tourism and commercial leasing.
Prestige has already delivered 316 projects spanning 212 million sqft as of the latest reporting period.
👀 What to Watch
Investors should monitor the project's development milestones as it strengthens Prestige's long-term annuity and hospitality revenue streams. The stock remains a key play on the premiumization of Indian real estate and commercial infrastructure.
Time Technoplast to Acquire 76% Stake in Systoverse Pvt Ltd for Rs 25 Crore Total Investment
Time Technoplast Limited (TTL) has signed a Share Purchase Agreement to acquire a 76% stake in Systoverse Private Limited (SPL), a Maharashtra-based manufacturer of HDPE pipes and sprinkler systems. The total projected investment is approximately Rs. 25 Crores, which covers the equity acquisition cost of Rs. 1.52 Crores plus significant capital expenditure for plant modernization and capacity expansion. This acquisition provides TTL with a strategic manufacturing presence in Maharashtra and adds 3,600 MT of annual pipe manufacturing capacity. Following the transaction, SPL will become a subsidiary of Time Technoplast.
Key Highlights
Acquisition of 76% equity stake in Systoverse Private Limited for a cash consideration of Rs. 1.52 Crores.
Total investment commitment of Rs. 25 Crores including capex for plant upgradation, modernization, and capacity expansion.
Target company SPL possesses an annual manufacturing capacity of 3,600 Metric Tonnes (M.T.) for HDPE pipes.
Strategic geographic expansion into Maharashtra with a facility located at Nardana MIDC, Dhule.
SPL's turnover has seen a significant decline from Rs. 26.88 Crores in FY24 to Rs. 1.41 Crores in FY26, suggesting a turnaround play.
👀 What to Watch
Investors should monitor the integration process and how TTL utilizes the new capacity to reverse SPL's recent revenue decline. The low acquisition cost relative to the total capex suggests TTL is buying assets to scale rather than buying existing cash flows.
ICRA Reaffirms [ICRA]BBB+ Rating for Thirumalai Chemicals with Negative Outlook
ICRA has reaffirmed the long-term credit rating of Thirumalai Chemicals Limited at [ICRA]BBB+ while maintaining a 'Negative' outlook. The rating action covers total bank facilities of ₹1,217.55 crore and Non-Convertible Debentures (NCDs) worth ₹100 crore. The short-term rating for non-fund-based facilities has been reaffirmed at [ICRA]A2. This periodic monitoring follows the company's FY2026 financial results, indicating continued caution regarding the company's credit profile.
Key Highlights
Long-term rating reaffirmed at [ICRA]BBB+ with a Negative outlook for ₹451 crore in term loans.
Working capital facilities of ₹330.50 crore and NCDs of ₹100 crore also reaffirmed at [ICRA]BBB+ (Negative).
Short-term rating for non-fund based facilities reaffirmed at [ICRA]A2 for ₹100 crore.
Total bank limits rated by ICRA amount to ₹1,217.55 crore across multiple lenders including IDFC FIRST and Federal Bank.
The rating review was triggered by the announcement of Q4FY2026 and full-year FY2026 results.
👀 What to Watch
Investors should closely monitor the company's margin recovery and debt levels, as the 'Negative' outlook suggests a potential downgrade if financial performance does not improve. The chemical sector's cyclical headwinds appear to be weighing on the credit profile.
Nitiraj Engineers Receives DGCA Type Certificate for NADR10 Agricultural Drone
Nitiraj Engineers Limited has received a Type Certificate from the DGCA for its agricultural drone model, NADR10. This medium-class drone features a 10-litre spraying system and complies with the Drone Rules, 2021, allowing for immediate manufacturing and marketing. The certification marks the company's strategic entry into the precision agriculture and agri-tech sectors. This milestone follows years of product development and is expected to create new revenue streams beyond its core weighing scale business.
Key Highlights
Obtained DGCA Type Certificate (No. T05260000094/00) for the NADR10 agricultural drone.
The drone features a 10-litre spraying system designed for precision agrochemical applications.
Enables the company to manufacture and market drones under the regulatory framework of Drone Rules, 2021.
Represents a major diversification into the emerging drone ecosystem and agri-technology sector.
👀 What to Watch
Investors should monitor the company's order book and production ramp-up for the drone segment as it could significantly impact future earnings. This is a positive development for long-term growth through diversification into high-tech agriculture.
Nitiraj Engineers Receives DGCA Type Certificate for NADR10 Agricultural Drone
Nitiraj Engineers Limited has successfully obtained a Type Certificate from the Directorate General of Civil Aviation (DGCA) for its agricultural drone model, NADR10. This medium-class drone is equipped with a 10-litre spraying system designed for precision agrochemical applications. The certification, issued under the Drone Rules 2021, confirms the product meets all safety and design standards, allowing the company to begin commercial manufacturing and marketing. This milestone marks the company's formal entry into the high-growth agri-technology and drone ecosystem sectors.
Key Highlights
Received DGCA Type Certificate No. T05260000094/00 for the NADR10 drone model
NADR10 is a medium-class drone featuring a 10-litre spraying system for agricultural use
Certification follows several years of R&D and rigorous technical evaluations by the DGCA
Enables the company to legally manufacture and market drones under the Drone Rules, 2021 framework
👀 What to Watch
Investors should watch for upcoming orders and production capacity updates as the company monetizes this new product line. This diversification into agri-tech could potentially improve the company's growth profile beyond its core weighing scale business.
Airtel Expands 5G Network with 2,900+ New Sites in Upper North India
Bharti Airtel has significantly strengthened its 5G infrastructure by deploying over 2,900 new sites across the Upper North region, covering 77 districts in Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir. This expansion targets a customer base of over 28.6 million, aiming to meet surging data demand with faster speeds and wider coverage. The company has maintained a rapid rollout pace, activating more than eight new sites daily over the last 12 months. This move is expected to enhance user experience and solidify Airtel's market position in these key northern territories.
Key Highlights
Deployed 2,900+ new 5G sites across 77 districts in the Upper North region over 12 months
State-wise rollout includes 1,066+ sites in Punjab, 954+ in Haryana, 619+ in J&K, and 276+ in Himachal Pradesh
The expanded network serves a massive base of over 28.6 million customers
Maintained a high deployment frequency of 8+ new sites activated daily
👀 What to Watch
Investors should monitor how this infrastructure expansion translates into higher data consumption and ARPU growth in the North Indian circles. The aggressive rollout indicates strong capital expenditure commitment to maintain a competitive edge in 5G services.
Sumeet Industries Announces Rs 199.75 Cr Rights Issue; Record Date June 12, 2026
Sumeet Industries has finalized the terms for its Rights Issue, aiming to raise approximately Rs 199.75 crore through the issuance of 16.84 crore equity shares. The issue price is set at Rs 11.86 per share, and the entitlement ratio is 8:25, meaning eligible shareholders can buy 8 new shares for every 25 held. The record date to determine eligibility is June 12, 2026, with the subscription window open from June 22 to July 20, 2026. This move will lead to equity dilution but provides the company with significant capital.
Key Highlights
Total issue size of Rs 199,75,11,225 involving 16,84,24,218 equity shares.
Rights Issue price fixed at Rs 11.86 per share (Face Value of Rs 2).
Rights Entitlement Ratio set at 8:25 (8 shares for every 25 shares held).
Record date for eligibility is June 12, 2026; Issue closes on July 20, 2026.
Last date for market renunciation of Rights Entitlements is July 16, 2026.
👀 What to Watch
Investors should compare the market price with the offer price of Rs 11.86; if they choose not to subscribe, they should sell their Rights Entitlements (RE) in the market before July 16 to avoid loss from dilution.