Rights issue approved: 1,96,68,019 shares at Rs. 10 each, 16 for every 5 held

The Rights Issue Committee approved a rights issue of 1,96,68,019 fully paid-up equity shares of face value Rs.10/- each at Rs. 10.00 per share, aggregating Rs. 1966.80 Lakhs assuming full subscription.

Thu 8 Oct 2026

Rights Issue Size

1,96,68,019 fully paid-up equity shares of face value Rs.10/- each at Rs. 10.00 per share, aggregating Rs. 1966.80 Lakhs

Entitlement Ratio

16 rights shares for every 5 shares held

Record Date

October 14, 2026

What was approved

The Rights Issue Committee of the Board met and approved the terms of a rights issue of equity shares.

• Type of securities: Fully paid-up Equity Shares of face value Rs.10/- each ("Rights Equity Shares")
• Type of issuance: Rights Issue of fully paid-up Equity Shares
• Issue size: 1,96,68,019 Rights Equity Shares for an amount aggregating to Rs. 1966.80 Lakhs (assuming full subscription)
• Price: Rs. 10.00 per Rights Equity Share
• Terms of payment: the full amount of the Issue Price of Rs. 10.00/- is payable on application

The committee approved the proposal for raising funds of up to Rs. 1966.80 Lakhs by way of a rights issue of equity shares, and adopted the Letter of Offer to be shared with BSE Limited and the Securities and Exchange Board of India, to be dispatched to eligible shareholders as on the record date in due course.

What existing shareholders are entitled to

• Rights entitlement ratio: 16 (sixteen) Rights Equity Share of Rs.10/- each for every 5 (five) Equity Shares of Rs.10/- each held on the record date, with the right to renounce
• Outstanding Equity Shares prior to the Rights Issue: 61,46,256 Equity Shares of Rs.10/- each
• Outstanding Equity Shares post the Rights Issue (assuming full subscription): 2,58,14,275 Equity Shares of Rs.10/- each

Dates to note

• Record date for determining eligible shareholders: October 14, 2026
• Rights Issue Opening Date: 29/10/2026
• Last date of On-Market Renunciation: 30/10/2026
• Last date of Off-Market Renunciation: 04/11/2026
• Rights Issue Closing Date: 5/11/2026

The Board or a duly authorised committee has the right to extend the Issue period, but not beyond 30 (thirty) days from the Issue Opening Date (inclusive of the Issue Opening Date). No withdrawal of an application is permitted after the Issue Closing Date.

How a retail investor can read this

A rights issue gives eligible existing shareholders the option to buy new shares in proportion to their holding, at a set price and ratio. Here the ratio of 16 new shares for every 5 held is large relative to the existing base, so a shareholder who neither subscribes nor renounces may see their stake shrink relative to the enlarged share count of 2,58,14,275 shares (assuming full subscription).

Those who do not wish to subscribe can renounce their entitlement, on-market on 30/10/2026 or off-market by 04/11/2026. The update asks eligible shareholders to ensure off-market renunciation is completed so that the Rights Entitlements are credited to the demat account of the renouncee on or prior to the Issue Closing Date.

The issue price of Rs. 10.00 per Rights Equity Share equals the face value of Rs.10/- per share, and the entire amount is payable at the time of application.

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