Board approves rights issue of equity shares up to Rs. 160 Crores; appoints Company Secretary
Board meeting held on Saturday, October 17, 2026.
By ScoutQuest · · 2 min read
- Rights Issue Size
- up to and not exceeding Rs. 160 Crores
- Face Value per Share
- Re. 1/- each
- Company Secretary Appointment Effective Date
- October 18, 2026
Rights issue approved
The Board of Directors met on Saturday, October 17, 2026 and considered and approved an issue of Equity Shares of face value Re. 1/- each for an amount up to and not exceeding Rs. 160 Crores (Rupees One Hundred and Sixty Crores Only).
The route chosen is a rights issue to eligible shareholders of the Company as on the record date, which is to be determined and notified subsequently. The issue is subject to applicable laws and such regulatory and statutory approvals as may be relevant.
What is a rights issue
- A rights issue gives existing eligible shareholders the first right to subscribe to the new shares, generally in proportion to their existing holding.
- The Company receives the subscription money from shareholders who take up their entitlement.
- Shareholders who do not subscribe may see their holding diluted, depending on the terms finally decided.
Terms still to be decided
- The Board has approved the Draft Letter of Offer.
- The Board will decide the terms and conditions, including the issue price, the rights entitlement ratio, the record date, the timing of the issue and the terms of payment.
- Until these are fixed, the exact number of shares to be issued and the price per share are not settled.
Company Secretary and Compliance Officer
Ms. Muskan Manucha (Membership No. ACS 81946) has been appointed as Company Secretary under Section 203 of the Companies Act, 2013 and Regulation 6(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and designated as Compliance Officer of the Company with effect from October 18, 2026.
She is an Associate Member of the Institute of Company Secretaries of India, with professional experience in corporate governance, regulatory and statutory compliance, capital market transactions, SEBI Listing Regulations compliance, stock exchange updates, ROC compliance under the Companies Act, 2013, corporate actions involving non-convertible debentures, warrants, ISIN allotments and listing approvals, and NCLT proceedings and merger-related documentation.
Meeting details
The meeting of the Board of Directors commenced at 05:00 p.m. and concluded at 05:55 P.M. IST.
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More numbers
- Size of the approved rights issueRs. 160 Crores
- Face value per equity shareRe. 1/-
- Issue size as stated in Annexure IRs. 160 Cr
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