Board approves rights issue of up to Rs 80 crores; Draft Letter of Offer cleared

The Board, at its meeting on September 30, 2026, approved a rights issue of fully paid up equity shares of face value Rs 10 each, for an aggregate amount of upto Rs 80 crores including premium.

Wed 30 Sep 2026

Aggregate Amount

upto Rs 80 crores including premium

Face Value per Share

Rs 10 each

Board Meeting Date

September 30, 2026

Offer Type

Rights issue to eligible equity shareholders

Update Status

Draft Letter of Offer approved and authorised to be shared with BSE for in-principle approval

What the Board decided

The Board of Directors met on Wednesday, September 30, 2026 (1:30 p.m. to 2:35 p.m.) and considered updates from the Fund Raising Committee.

• Approved issuance of fully paid up equity shares of face value Rs 10 each by way of a rights issue.
• Aggregate amount of upto Rs 80 crores, including premium.
• Offer to eligible equity shareholders as on a record date to be determined and notified later.
• Approved the Draft Letter of Offer and authorised its update with BSE Limited for in-principle approval for listing of the new shares.

What a rights issue means

In a rights issue, existing shareholders get the right to buy new shares in proportion to their existing holding, usually at a set price. Shareholders who do not subscribe may see their percentage holding in the company reduce once new shares are issued.

What is still open

The total number of Rights Equity Shares will be determined only after the issue price and the rights entitlement ratio are finalised. The record date is yet to be notified. The issue is subject to regulatory and statutory approvals under applicable laws, including the Companies Act, 2013 and SEBI ICDR Regulations.

How investors may read it

The decision follows earlier intimations dated September 24, 2026 and September 28, 2026 about the fund raising proposal. It signals the company is moving ahead with capital raising, while the pricing terms that determine the actual impact on shareholders are still awaited.

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