Rights issue committee defers issue price, entitlement ratio matters as BSE in-principle approval awaited

Rights issue update.

Wed 7 Oct 2026

Meeting Deferred

Rights Issue Committee meeting scheduled for October 07, 2026 has been deferred

Reason for Deferral

requisite 'in-principle' approval from BSE Limited not yet received

Board Approval Date

Rights Issue approved by the Board of Directors at its meeting held on October 01, 2026

Meeting deferred

The Rights Issue Committee meeting of the company that was scheduled to be held on Thursday, October 07, 2026 has been deferred. The committee was to consider the Issue Price, Entitlement Ratio and other modalities related to the proposed Rights Issue of Partly Paid-up Equity Shares.

Reason given

• The company has not yet received the requisite 'in-principle' approval from BSE Limited.
• The Rights Issue Committee has deferred consideration of those matters until it obtains such approval.

Background

• The Board of Directors approved the Rights Issue at its meeting held on October 01, 2026.
• The committee meeting was called subject to receipt of the in-principle approval from BSE.
• The earlier intimation regarding the scheduled meeting was dated October 01, 2026.

What a rights issue is

A rights issue is an offer of new shares to existing shareholders. Shareholders are usually offered the chance to buy these shares in proportion to the shares they already hold. That proportion is the entitlement ratio, and the price at which the new shares are offered is the issue price. In this case the shares are proposed as partly paid-up, which is a structure where the shareholder pays for the shares in more than one instalment.

What this update means for a retail holder

• The step of fixing the issue price, the entitlement ratio and the other modalities has been deferred.
• The company has said these matters will be considered once the in-principle approval from BSE is received.
• The proposed Rights Issue of Partly Paid-up Equity Shares remains as approved by the Board on October 01, 2026.

This update is an announcement about the timing of a committee meeting, not about any change to the terms of the rights issue.

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