JDJTL Defence537254Rights issue announcement

Board approves rights issue of up to INR 2,460 Lakhs; new CFO and Company Secretary appointed

Board meeting outcome (Oct 14, 2026).

By ScoutQuest · Wed 14 Oct 2026, 7:10 PM IST · 3 min read

Rights Issue Size

not exceeding INR 2,460 Lakhs

Face Value Per Share

₹10 each

Stated Purpose

to achieve minimum public shareholding

Board meeting: what was decided

The board of directors of JTL Defence Limited met on Wednesday, October 14, 2026, from 6:30 PM to 6:55 PM. The outcome covers two themes: a proposed fund raise through a rights issue, and changes in two key managerial positions.

Rights issue approved

• The board approved raising funds by issuing fully paid-up equity shares of the Company of face value ₹10 each, for an amount not exceeding INR 2,460 Lakhs (Rupees Two Thousand Four Hundred and Sixty Lakhs only).
• The shares are to be offered by way of a rights issue to the eligible equity shareholders of the Company (under public category).
• The stated purpose is to achieve minimum public shareholding, as on the record date.
• The offer is subject to receipt of applicable regulatory and statutory approvals.
• A Rights Issue Committee has been formed and delegated the powers of the board for the rights issue: Pranav Singla (Chairman), Dhruv Singla (Member) and Satinder Singh (Member).
• The specific terms, including the issue price, rights entitlement ratio, record date, timing of the rights issue and terms of payment, will be determined by the Rights Issue Committee and disclosed to the exchange in due course.
• The procedure for applying in the rights issue will be specified in the letter of offer sent to eligible shareholders holding shares as on the record date.

What this means for existing shareholders

A rights issue gives eligible existing shareholders the first right to subscribe to new shares, usually in proportion to their current holding. The issue price, the entitlement ratio and the record date are to be decided by the committee, so the cost per share and the exact effect on a shareholder's stake are not fixed by this update.

Management changes

• Mr. Ankit Singla ceased to be the Company Secretary and Compliance Officer of the Company with effect from close of business hours of October 13, 2026. His resignation letter cites personal reasons, and states that apart from that there is no material reason.
• Mr. Naveen Kumar Laroitya ceased to be the Chief Financial Officer of the Company with effect from close of business hours of October 13, 2026. His resignation letter also cites personal reasons, and states that apart from that there is no material reason.
• Ms. Devangna Jain (M. No. A49863) was appointed Company Secretary and Compliance Officer with immediate effect. She is a qualified Company Secretary and member of the Institute of Company Secretaries of India (ICSI), with B.Com and M.Com degrees, and has experience as a CS Trainee at Vardhman Textiles Limited, Ludhiana, and through an association with R. Arora & Associates.
• Mr. Saurabh Jain was appointed Chief Financial Officer with immediate effect. He is a banking and financial services professional with over 20 years of experience across business banking, retail banking, insurance and telecom, and has served as Cluster Head – Business Banking at HDFC Bank, Chandigarh. He holds an MBA in Marketing (Major) and Finance (Minor) from Punjab Technical University (PTU), Jalandhar (2009), along with CAIIB and JAIIB qualifications from the Indian Institute of Banking and Finance.

Trading window

The trading window for dealing in securities will continue to remain closed, and will open 48 hours after publication of results for the quarter and half year ended September 30, 2026.

Points to watch

• The rights issue terms once the Rights Issue Committee determines and discloses them: issue price, entitlement ratio, record date, timing and payment schedule.
• The record date, which will decide which shareholders are eligible to apply in the rights issue.
• How the new Chief Financial Officer and Company Secretary step into their roles, as both appointments took effect immediately.

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