Board approves rights issue of equity shares up to Rs. 72 crore

Board meeting held on Monday, 12 October 2026, from 03:00 PM to 03:30 PM IST.

Mon 12 Oct 2026

Rights Issue Size

up to an aggregate amount not exceeding Rs. 72 crore

Face Value

Rs. 10/- each

Board Meeting Date

Monday, 12 October 2026, from 03:00 PM to 03:30 PM IST

What the Board approved

The Board of Directors met on Monday, 12 October 2026 and approved the raising of funds through the issue and allotment of equity shares of the Company by way of a Rights Issue.

The equity shares have a face value of Rs. 10/- each, and the amount to be raised is up to an aggregate not exceeding Rs. 72 crore, on a rights basis and on such terms as decided by the Board or a duly constituted committee at a later date.

Who can participate

The issue is for the eligible equity shareholders of the Company, as on a record date to be notified subsequently. A rights issue gives existing shareholders the first right to subscribe to the new shares.

Who decides the fine print

The Board has authorised the "Right Issue Committee", a sub-committee of the Board, to decide all matters relating to the proposed issue. This includes finalisation and approval of the detailed terms and conditions of the issue and the number of equity shares to be issued.

Approvals needed

The proposal is subject to receipt of regulatory and statutory approvals.

Reading the numbers

• Face value of Rs. 10/- is the nominal value of each share, not necessarily the price at which the rights issue will be offered.
• Rs. 72 crore is the maximum aggregate amount the Board has approved for raising through this route.
• The number of shares to be issued is to be finalised by the Right Issue Committee, and would follow from the issue size and the issue price.

Why a rights issue matters to a shareholder

• New shares are offered first to existing shareholders, usually in proportion to their current holding.
• A shareholder can subscribe to the offer, subscribe partly, or not subscribe at all; not subscribing can reduce that shareholder's percentage holding in the Company.
• Money raised this way comes from shareholders rather than lenders, so it does not by itself add borrowings to the books.

The company has also stated that the details required under the SEBI Listing Regulations read with the SEBI Master Circular dated November 11, 2024 are given in Annexure 1 of the update, where the securities proposed are equity shares, the type of issuance is a rights issue, and the total amount proposed is not exceeding Rs. 72 Crore.

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