Board approves rights issue of Rs. 96,96,24,000; 60,60,150 shares at Rs. 160 each

Board approved a rights issue of Rs. 96,96,24,000, to be issued as 60,60,150 equity shares of Rs. 10 each at Rs. 160 per share (premium Rs. 150).

Thu 1 Oct 2026

Rights Issue Size

Rs. 96,96,24,000

Rights Shares

60,60,150 equity shares of Rs. 10 each

Rights Issue Price

Rs. 160 per share (premium Rs. 150)

Entitlement Ratio

3 new shares for every 20 held

Record Date

October 15, 2026

Board meeting outcome

The Board of Directors met on Thursday, 01 October 2026 and considered and approved the terms of a rights issue. A rights issue is an offer of new shares to existing shareholders, in proportion to the shares they already hold.

• Rights Issue Size: Rs. 96,96,24,000
• Rights Shares: 60,60,150 equity shares of Rs. 10 each
• Rights Issue Price: Rs. 160 per equity share, including a premium of Rs. 150 per share
• Rights Entitlement Ratio: 3 new equity shares for every 20 existing shares held by eligible shareholders on the record date

How the payment is split

• Rs. 144 per equity share payable on application, including a premium of Rs. 135 per share, being 90% of the issue price
• Rs. 16 per equity share payable on a subsequent call, including a premium of Rs. 15 per share, being 10% of the issue price

The full Rs. 160 per share is therefore collected in two parts, with the larger portion due at the time of applying.

Record date and entitlements

• The record date for deciding who is eligible is Thursday, October 15, 2026
• The company has made arrangements with NSDL and CDSL so that rights entitlements are credited in demat form to the accounts of eligible shareholders under a separate ISIN, before the issue opens

Merchant banker change

• GYR Capital Advisors Private Limited has been appointed as the new merchant banker for the proposed rights issue and other matters related to it
• It replaces Almondz Financial Services Limited

Reading it simply

A rights issue gives existing shareholders the first right to buy additional shares, in a fixed proportion to what they already own. Here the proportion is 3 new shares for every 20 shares held on the record date, and the price is Rs. 160 per share.

Because the money is collected in two stages, a shareholder who applies pays Rs. 144 per share now and Rs. 16 per share on the later call. The entitlement ratio and the record date are the two details that decide how many new shares a holder is entitled to.

The board has approved the terms above, appointed a new merchant banker, and fixed the record date.

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