Darshan Orna Rights Issue dates 13 – 21 November 2025.
Darshan Orna, established in 2011 and headquartered in Ahmedabad, India, operates as a wholesaler and trader of gold and silver jewelry and ornaments. The company offers a diverse range of products, including chains, rings, earrings, bracelets, anklets, bangles, toe rings, and necklaces, catering to traditional, modern, and Indo-Western designs. It specializes in both plain and studded jewelry featuring gemstones, Kundan work, and American diamonds. The company comprises Traditional Jewelry ~20%, ~40 % of Modern Jewelry, and ~40 % of Indo‐Western Jewelry. The company sources its raw materials from its suppliers based in Gujarat.
In terms of financial performance, Darshan Orna has demonstrated strong revenue growth over the past five years, with an annual rate of 21.24%, significantly outperforming the industry average of 10.23%. The company’s net income growth has been even more impressive, with an annual rate of 75.58% over the same period, far surpassing the industry average of 8.55%.
Promoters of Darshan Orna – Mr. Mahendrakumar R. Shah and Mrs. Arunaben M. Shah
Table of Contents
Darshan Orna Rights Issue Details
| Darshan Orna Rights Issue Date | 13 – 21 November 2025 |
| Darshan Orna Rights Issue Price | INR 3 per share |
| Issue Size (in Shares) | 5,00,29,335 shares |
| Issue Size (in INR) | INR 15.01 crore |
| Issue Entitlement | 1 equity share for every 1 equity share held on the record date |
| Terms of Payment | Fully payable at the time of application |
| Darshan Orna Rights Issue Record Date | 31 October 2025 |
| Face Value | INR 2 per share |
| Listing On | BSE |
Darshan Orna Rights Issue Calculation
| Darshan Orna Rights Issue Price | INR 3 per share |
| Market Price on Rights Issue Approval | INR 2.77 per share |
| Dilution Factor (X) | 2 |
| Fair Value After Dilution at Prevailing Price | INR 2.89 per share |
Darshan Orna Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 13.82 | 20.87 | 21.69 |
| Expenses | 13.87 | 21.13 | 21.63 |
| Operating Margin (%) | (0.36) | (1.25) | 0.28 |
| Net Income | 0.06 | 2.67 | 0.47 |
| ROCE (%) | 1.00 | (1.46) | 3.58 |
Darshan Orna Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- To meet the working capital requirement of the company – INR 14.51 crore
- General corporate purposes – INR 0.25 crore
- Issue-related expenses – INR 0.25 crore
Darshan Orna Rights Offer Documents
- Darshan Orna Rights Issue Application Form
- Darshan Orna Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Darshan Orna Rights Issue Dates
| Rights Issue Approval Date | 28 February 2025 |
| Rights Issue Record Date | 31 October 2025 |
| Credit of Rights Entitlement | 12 November 2025 |
| Rights Issue Opening Date | 13 November 2025 |
| Last Date for Market Renunciation | 17 November 2025 |
| Rights Issue Closing Date | 21 November 2025 |
| Finalization of Basis of Allotment | 24 November 2025 |
| Rights Allotment Date | 24 November 2025 |
| Credit Date | 25 November 2025 |
| Listing Date | 25 November 2025 |
Darshan Orna Rights Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B Plot No. 31 & 32
Gachibowli, Financial District, Nanakramguda,
Serilingampally, Hyderabad 500 032
Phone: +91 40 6716 2222
Email: [email protected]
Website: www.kfintech.com
Darshan Orna Contact Details
DARSHAN ORNA LIMITED
Survey No. 02105+2106/3/Lawar Ni Pole,
Shekh Sariya Chambers, Madan Gopal Haveli Road,
Manek Chowk, Ahmedabad, Gujarat, 380001
Phone: +919510646569
Email: [email protected]
Website: www.darshanorna.co.in
Darshan Orna Rights Offer FAQs
What is the Darshan Orna Rights Issue Price?
The issue price is INR 3 per share.
What is the Darshan Orna Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Share for every 1 Equity Share held on the record date.
What is the Darshan Orna Rights Issue Record Date?
The Record date is 31 October 2025.
How to Apply in the Darshan Orna Rights Offer?
The best way to apply in the Darshan Orna Rights Offer is through Internet banking ASBA. You can also apply online through your stockbroker using UPI. If you prefer to make paper applications, fill up an application form and deposit the same with your broker.