Board approves raising up to Rs. 45,00,00,000 via rights issue of equity shares

The board meeting held on 1st October 2026 approved raising funds through issuance and allotment of equity shares of face value Rs. 10.00/- each, for an aggregate amount not more than Rs. 45,00,00,000/- on a rights issue basis.

Thu 1 Oct 2026

Fund raise amount

not more than Rs. 45,00,00,000/-

Face value per share

Rs. 10.00/- each

Instrument

equity shares ... on a rights issue basis

Board meeting date

1st October 2026

Record date

record date to be notified

What the board approved

• Approval for raising of funds through issuance and allotment of equity shares having a face value of Rs. 10.00/- each, for an aggregate amount not more than Rs. 45,00,00,000/-, on a right issue basis.
• The issue is to be made to the eligible equity shareholders of the Company as on the record date, which is to be notified subsequently.
• Approval of the Draft Letter of Offer and other relevant documents in relation to the rights issue, to be shared with BSE Limited.
• Constitution of the Rights Issue Committee: Mr. Ravindra Ashokhbhai Joshi (Chairman), Mr. Jinang Dineshkumar Shah (Member) and Ms. Juhi Sawajani (Member).
• Authorising the Rights Issue Committee to appoint various intermediaries and to do all such acts, deeds, things and matters as it may deem necessary, proper and desirable for the purpose of and in connection with the rights issue.

The numbers to note

• Face value of the equity shares proposed to be issued: Rs. 10.00/- each.
• Aggregate amount for which the securities will be issued: not more than Rs. 45,00,00,000/- (Rupees Forty five crore Only).
• The terms and conditions are as may be decided by the Board of Directors, and the price and the rights entitlement ratio are to be decided by the Board or the duly constituted Rights Issue Committee.

How a rights issue works, in simple terms

A rights issue gives existing shareholders the first option to subscribe to newly issued shares, usually in proportion to the shares they already hold. The entitlement ratio decides how many new shares an eligible holder may apply for, and the record date decides who qualifies. The issue is subject to the receipt of applicable regulatory and statutory approvals.

What a shareholder may want to track

• The record date, which is to be notified subsequently.
• The price and the rights entitlement ratio, to be decided by the Board or the Rights Issue Committee.
• The applicable regulatory and statutory approvals, since the issue is subject to their receipt.
• The appointment of intermediaries by the Rights Issue Committee.

The update records the meeting as commencing at 04:00 PM and concluding at 04:30 PM.

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