Board approves rights issue of equity shares up to Rs. 2600 Lakhs, forms Rights Issue Committee

Board meeting outcome (Oct 12, 2026).

Mon 12 Oct 2026

Issue Size

not exceeding ₹ 2600 Lakhs

Face Value per Share

Rs.5/- each

Type of Issuance

Equity Shares on a right issue basis

The Board of Directors met on October 12, 2026 and approved a plan to raise funds through a rights issue of equity shares, and set up a committee to take the process forward.

What the board approved

• Raising of funds by way of issue of equity shares of the Company of face value Rs.5/- (Rupees Five Only) each, for an aggregate amount not exceeding ₹ 2600 Lakhs (Rupees Twenty Six Hundred Lakhs), on a right issue basis.
• The shares are to be offered to the eligible equity shareholders of the Company as on the record date, which is to be notified subsequently.
• The raising is subject to the receipt of applicable regulatory and statutory approvals.
• The terms and conditions of the issue are to be decided by the Board of Directors.
• Constitution of a Rights Issue Committee of the Board to decide on the matters relating to the rights issue.
• The Committee is authorised to appoint various intermediaries and to do all such acts, deeds, things and matters as it may in its discretion deem necessary, proper and desirable for the rights issue.

Who is on the Rights Issue Committee

• Mr. Vallabh Reddy Gaddam, Chairman & Managing Director — Chairperson
• Mrs. Thejasri Kancharla, Whole-time Director — Member
• Mr. Venkata Srinivasan Kodakalla, Independent Director — Member

Details given in the annexure

• Type of securities proposed to be issued: Equity Shares
• Type of issuance: Rights Issue
• Total amount for which the securities will be issued: Upto Rs. 2600 Lakhs

What a rights issue means for a shareholder

In a rights issue, a company offers its existing shareholders the first right to buy newly issued shares, usually in proportion to the shares they already hold. The detailed terms, including the procedure for applying in the rights issue, will be specified in the letter of offer which the Company will send to the eligible shareholders holding equity shares as on the record date, in due course. The record date is to be notified subsequently, and the issue is subject to the receipt of applicable approvals.

Meeting timing

The board meeting commenced at 06:30 P.M and concluded at 08:30 P.M.

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