Board approves rights issue of partly paid-up equity shares of up to ₹1,000 crore

The Board has approved a rights issue of partly paid-up equity shares of face value ₹10 each, for an amount not exceeding ₹ 1,000 crore.

Mon 28 Sep 2026

Rights Issue Amount

not exceeding ₹1,000 crore

Security Type

partly paid-up equity shares of face value ₹10 each

Offering Method

rights issue to eligible equity shareholders

Board Approval Date

September 28, 2026

What was decided

At its meeting on September 28, 2026, the Board approved the issue of partly paid-up equity shares of face value ₹10 each for an amount not exceeding ₹ 1,000 crore, by way of a rights issue to eligible equity shareholders as on a record date to be notified.

Key points

• Type of security: partly paid-up equity shares
• Type of issuance: rights issue to existing eligible shareholders
• Size: total amount not exceeding ₹ 1,000 crore
• Number of shares to be issued will be determined by the Board
• Subject to regulatory and statutory approvals, if and as required

What a rights issue means

In a rights issue, existing shareholders get the right to buy new shares in proportion to their holding, usually at a set price. "Partly paid-up" means shareholders pay only part of the amount upfront, with the balance called later as decided by the Company. Shareholders who do not subscribe may see their percentage holding diluted.

Still to come

The rights issue price, rights entitlement ratio, record date, timing and terms of payment have not yet been fixed. The Board will determine these and disclose them to the exchanges in due course.

Meeting timing

The meeting commenced at 17:45 PM (IST) and concluded at 18:30 PM (IST). This follows the Company's earlier intimation dated September 23, 2026.

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