Board approves rights issue of up to ₹130 Crores; Rights Issue Committee constituted

Board meeting on October 01, 2026 approved raising funds of up to ₹ 130 Crores via a rights issue to existing equity shareholders.

Thu 1 Oct 2026

Fund Raising Amount

up to ₹ 130 Crores

Share Face Value

₹5/- each

Issue Type

Rights Issue to existing equity shareholders

Board Meeting Date

October 01, 2026

Committee Chairman

Mr. Vaibhav Agarwal

What the Board approved

• Raising funds of an amount not exceeding ₹ 130 Crores by way of a rights issue of equity shares of face value ₹5/- each.
• The offer is to eligible equity shareholders as on a record date that will be determined and notified later.
• Annexure A describes the securities as partly paid-up equity shares of face value ₹ 5/- each, issued by way of rights issue to existing equity shareholders.
• The number of shares and the entitlement ratio will be decided by the Board / Rights Issue Committee for an amount not exceeding ₹ 130 Crores.

Still to be decided

• Issue price, rights entitlement ratio, record date, timing and terms of payment.
• The issue is subject to receipt of statutory and regulatory approvals under the amended SEBI ICDR Amendment Regulations, 2025 and other applicable regulations.
• Annexure A records no cancellation or termination of the proposal (N.A.).

Rights Issue Committee

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

The Committee is constituted for the issue, offer and allotment of equity shares and related matters.

How investors may read this

A rights issue offers existing shareholders the chance to subscribe to new shares in proportion to their holding. Shareholders who subscribe maintain their proportionate stake; those who do not can see their shareholding percentage reduce once new shares are allotted. Because this is a partly paid-up structure, payment would be made in instalments as called by the Company. The practical impact depends on the issue price and entitlement ratio, which are yet to be fixed.

Meeting timing

The Board meeting commenced at 11:30 A.M. and concluded at 11:50 A.M. on October 01, 2026, following the prior intimation dated September 23, 2026.

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