Board Approves Rights Issue of Equity Shares for Up to Rs. 130 Crores

The Board has approved raising funds of up to ₹130 Crores through a Rights Issue of equity shares of face value ₹5 each to eligible shareholders as on a record date to be notified.

Thu 1 Oct 2026

Funds to be Raised

up to ₹130 Crores

Equity Share Face Value

₹5 each

Eligible Participants

equity shareholders as on record date to be notified

Rights Issue Committee Chairman

Mr. Vaibhav Agarwal

Board Meeting Date

October 01

What was approved

The Board of Directors, at its meeting held on October 01, approved raising funds through issuance of fully paid-up equity shares of face value Rs. 5/- each by way of a rights issue for an amount not exceeding Rs. 130 Crores.

Who can participate

• Only eligible equity shareholders of the Company as on the record date, which is to be determined and notified later.
• In a rights issue, existing shareholders get the right to buy new shares in a fixed ratio to their current holding.

What is still to be decided

• Issue price
• Rights entitlement ratio
• Record date
• Timing and terms of payment

These will be determined in due course by the Board or the Rights Issue Committee, subject to statutory and regulatory approvals under the SEBI ICDR Regulations and other applicable laws.

Rights Issue Committee

The Board constituted a Rights Issue Committee for the issue, offer and allotment of equity shares and related matters:

• Mr. Vaibhav Agarwal, Chairman
• Mr. Jaydeep Vinod Mehta, Member
• Mr. Rajesh Loya, Member

Meeting timing

The Board meeting commenced at 11:30 A.M. and concluded at 11:50 A.M.

How to read this

A rights issue brings fresh capital into the company. Shareholders who subscribe maintain their proportionate stake; those who do not subscribe may see their shareholding percentage diluted once new shares are allotted. The actual impact can only be assessed once the price and entitlement ratio are announced.

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