Company Disclosure: Postponement of Board Meeting for Rights Issue
Background and Original Plan
The Company had previously intimated on October 23, 2026, about a Board of Directors meeting scheduled for Thursday, October 29, 2026. The purpose of this meeting was to consider and approve various matters in connection with a proposed Rights Issue of equity shares for an amount not exceeding ₹49,00,00,000 (Rupees Forty-Nine Crore Only). This Rights Issue was subject to applicable laws and requisite statutory and regulatory approvals.
Reason for Postponement
The Company had submitted requisite applications to both BSE Limited and National Stock Exchange of India Limited for obtaining in-principal approvals for the proposed Rights Issue. However, the Stock Exchanges are currently examining the Draft Letter of Offer and have raised certain queries. The Company is in the process of responding to these queries. Consequently, the requisite in-principal approvals are not expected to be received by October 29, 2026.
Decision and Next Steps
In view of the pending approvals, the Company has decided to postpone the Board Meeting scheduled for October 29, 2026. The Board Meeting to consider and approve relevant matters relating to the proposed Rights Issue will be rescheduled to a subsequent date. The matters to be approved include:
- Issue price
- Rights entitlement ratio
- Record date
- Issue opening and closing dates
- Other related terms and conditions
The revised date of the Board Meeting will be intimated to the Stock Exchanges separately upon receipt of the requisite in-principal approvals.
Financial Impact
Financial impact not quantified in the disclosure as the Rights Issue details including pricing and terms are pending board approval and regulatory clearances.