Board meeting on 09 October 2026 to consider draft letter of offer for rights issue

Padam Cotton Yarns has told BSE that its Board of Directors will meet on Friday, October 09, 2026.

Tue 6 Oct 2026

Board Meeting Date

Friday, October 09, 2026

Agenda Item 1

Draft Letter of Offer (DLoF) for an issue of shares on a rights basis

Agenda Item 2

appointment of various intermediaries for that rights issue

What was announced

Padam Cotton Yarns Limited has informed BSE that a meeting of its Board of Directors will be held on Friday, October 09, 2026 at the corporate office of the company.

The board will consider and approve, among other things, two connected items relating to a rights issue of shares.

The intimation was given under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which is the rule that requires a listed company to tell the exchanges in advance about a board meeting where price-sensitive matters will be taken up. The notice is signed by Dinesh Shreevastav, Whole-Time Director.

What the board will take up

• The Draft Letter of Offer (DLoF) for the issue of shares on a rights basis
• Appointment of various intermediaries for that rights issue

The company states both are subject to such regulatory or statutory approvals as may be required.

What a rights issue is, in plain terms

A rights issue is a way for a company to raise fresh money from its own existing shareholders. Those shareholders are offered the chance to buy additional shares, normally in a fixed proportion to the shares they already hold, and normally at a price decided for that issue.

Because the offer goes first to existing holders, it lets them keep their share of the company if they choose to subscribe. The terms are not left to guesswork: they are set out in a formal document called the Letter of Offer, which is the document the board is meeting to consider in draft form.

Why intermediaries matter

A rights issue involves several specialist parties. Depending on the issue, these can include a merchant banker, a registrar to handle applications and allotment, legal advisers, and others. Appointing them is a routine step once a company has decided to go ahead, because they run the process, collect applications and handle allotment.

Why this notice is worth noting

• It shows the rights issue is at the document-and-appointment stage, moving from an idea towards an actual offer.
• It gives shareholders a dated event to watch: the board meeting on October 09, 2026.
• The two items are preparatory. Where the board takes these up, the details that matter to a shareholder, such as how much is being raised, the price, the ratio and the record date, are decided and announced as part of the process.
• Nothing in this notice changes the company's share capital by itself. It is an intimation of a meeting.

How to read it

The tone of the update is procedural. It is a scheduling notice rather than a decision. Shareholders typically treat such notices as a signal to look out for the follow-up announcement, which comes after the board meets and takes the items on record.

What to watch for after the meeting

The outcome of the board meeting, and the terms of the rights issue as and when they are set out by the company. Until those terms are announced, the size, pricing and structure of the offer remain to be decided by the board.

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