Board allots 84,05,000 equity shares under Rights Issue at ₹1 per share
The Board approved allotment of 84,05,000 fully paid-up equity shares at an issue price of ₹1 per share under its Rights Issue.
- Shares Allotted
- 84,05,000 fully paid-up equity shares
- Issue Price
- ₹1 per share
- Paid-up Capital Before
- ₹6,99,40,000
- Paid-up Capital After
- ₹15,39,90,000
- Letter of Offer Coverage
- upto 1,39,88,000 equity shares
What happened
The Board of Directors passed a resolution on September 28, 2026 approving the allotment of 84,05,000 fully paid-up equity shares at an issue price of ₹1 per Equity Share to eligible equity shareholders and renouncees under the Rights Issue.
Background
- The Rights Issue Letter of Offer covered upto 1,39,88,000 fully paid-up equity shares of face value ₹10 each.
- The Basis of Allotment was finalised in consultation with the Registrar, Cameo Corporate Services Limited, and BSE Limited, the Designated Stock Exchange.
Effect on capital
- Paid-up equity share capital increased from ₹6,99,40,000 to ₹15,39,90,000, by addition of 84,05,000 equity shares.
Meeting details
- The board meeting commenced at 05.30 p.m. and concluded at 07:10 p.m.
What it means for investors
A rights issue lets existing shareholders subscribe to new shares. Shareholders who did not subscribe see their proportionate holding reduced as the share count rises. The allotment completes a key step of the fund-raising process; the shares allotted are fewer than the upto figure mentioned in the Letter of Offer.
More numbers
- Shares allotted84,05,000
- Issue price per equity share₹1 per Equity Share
- Shares covered in Letter of Offer1,39,88,000
- Face value per share₹10 each
- Paid-up capital before₹ 6,99,40,000
- Paid-up capital after₹15,39,90,000
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