Board approves fresh Rights Issue of up to Rs. 50 Crores; Mr. Ishaan appointed Additional Director

Board approved a fresh Rights Issue of up to Rs. 50 Crores and appointed Mr. Ishaan as Additional Director (Non-Executive, Non-Independent) from Oct 07, 2026, subject to members' nod.

Wed 7 Oct 2026

Rights Issue Size

not exceeding Rs. 50 Crores (Rupees Fifty Crores only)

Face Value per Share

fully paid-up Equity Shares of face value of Rs. 10 each

Remote e-voting Period

October 08, 2026 to November 06, 2026; results on or before November 10, 2026

What the exchange was told

The Board of Directors of Mega Nirman & Industries Limited met on Wednesday, October 07, 2026 and, among other things, approved a fresh fund raise through a Rights Issue and the appointment of Mr. Ishaan as an Additional Director.

• Fund raising by way of Rights Issue: fully paid-up Equity Shares of face value of Rs. 10 each to the existing equity shareholders of the Company on a rights basis, for an amount not exceeding Rs. 50 Crores (Rupees Fifty Crores only).
• This is a fresh Rights Issue; the earlier application and Draft Letter of Offer submitted to BSE Limited have been withdrawn by the Company.
• The issue price, rights entitlement ratio, record date and other terms are to be determined by the Board in due course.
• Appointment of Mr. Ishaan as an Additional Director in the category of Non-Executive, Non-Independent Director with effect from October 07, 2026, subject to the approval of the Members.
• Approval of the Notice of Postal Ballot for seeking the approval of the Members, only through remote e-voting.
• Appointment of CA Shiva Nishad (Membership No. 560019), Partner of Krishan Rakesh & Co., Chartered Accountants, as the Scrutinizer to conduct the Postal Ballot through the remote e-voting process.

What members will vote on

Four resolutions are proposed in the Postal Ballot Notice

• Item 1 (Ordinary Resolution): appointment of Mr. Himanshu Gopal (DIN: 11891364) as an Executive Director of the Company, liable to retire by rotation. He was appointed by the Board as an Additional Director in the Executive Director category with effect from August 11, 2026.
• Item 2 (Special Resolution): appointment of Mrs. Shruti Swaroop (DIN: 07814461) as an Independent Director for a term of five (5) consecutive years from August 11, 2026 up to August 10, 2031.
• Item 3 (Ordinary Resolution): appointment of Mr. Ishaan as a Non-Executive, Non-Independent Director, liable to retire by rotation.
• Item 4 (Special Resolution): approval for fresh issuance of Equity Shares to existing shareholders through the Rights Issue mechanism.

Postal Ballot schedule

• Cut-off date for reckoning voting rights and dispatch of Notice: Friday, October 02, 2026.
• Remote e-voting starts: Thursday, October 08, 2026 at 09:00 A.M. (IST).
• Remote e-voting ends: Friday, November 06, 2026 at 05:00 P.M. (IST).
• Results: on or before Tuesday, November 10, 2026.
• E-voting agency: National Securities Depository Limited (NSDL).

The trading window for dealing in the securities of the Company, which has been closed from October 1, 2026, shall continue to remain closed until the expiry of 48 hours after the declaration of the Unaudited Financial Results for the quarter ended September 30, 2026.

Terms of the Rights Issue

• Type of securities: fully paid-up Equity Shares of face value of Rs. 10 each.
• Type of issuance: Rights Issue to the existing equity shareholders of the Company.
• Amount: not exceeding Rs. 50 Crores (Rupees Fifty Crores only).
• The Equity Shares issued shall rank pari passu in all respects, including dividends, with the existing Equity Shares from the date of allotment.
• All monies received from the Issue shall be transferred to a separate bank account maintained for the purpose of the Issue and utilised in accordance with the objects of the Issue.

About Mr. Ishaan

• Aged 22 years, currently pursuing Bachelor of Computer Applications (BCA) (final year) from Akido College of Engineering.
• Not related to any Director or Key Managerial Personnel of the Company.
• Not debarred from holding the office of Director by virtue of any order of SEBI or any other authority.
• Shareholding in the Company: Nil.

How the resolutions are decided

• The appointment of Mr. Himanshu Gopal and the appointment of Mr. Ishaan are proposed as Ordinary Resolutions, which need a simple majority of the votes cast.
• The appointment of Mrs. Shruti Swaroop and the approval for fresh issuance of Equity Shares through the Rights Issue mechanism are proposed as Special Resolutions, which need the approval of members holding more than half of the votes cast.
• The Notice is being sent through electronic mode to Members whose e-mail addresses are registered with the Company/Registrar and Share Transfer Agent/Depositories, and members can vote only through the remote e-voting process.

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