Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Dipesh B. Mistri as Chief Financial Officer (CFO) & Key Managerial Personnel (KMP) of the Company.
Effective date of appointment: June 10, 2026.
Brief profile: Mr. Mistri has around 10+ years of professional experience in finance, accounts, taxation, corporate law, and regulatory compliances. He has strong knowledge of financial management and reporting, extensive experience in financial planning and analysis, budgeting, forecasting, fund management, statutory audits, internal financial controls, and preparation of financial statements in accordance with applicable accounting standards.
2. Rights Issue Approval
The Board approved the issuance of equity shares on a rights basis for an amount not exceeding ₹6000 lakhs.
The securities to be issued are fully paid-up equity shares of face value of ₹10/- each.
The issuance will be conducted as a Rights Issue to eligible equity shareholders of the Company as on a record date to be determined and notified subsequently.
The exact number of securities proposed to be issued and the issue price will be determined after finalization of terms by the Board as recommended by the Rights Issue Committee.
3. Draft Letter of Offer
The Board approved the Draft Letter of Offer (DLOF) to be filed with SEBI and the Stock Exchanges in connection with the Rights Issue.
4. Rights Issue Committee Formation
The Board constituted a Rights Issue Committee to undertake and oversee all matters relating to the proposed Rights Issue.
The committee comprises three members:
Chairman: Bipin Dinesh Varma
Member: Dipti Shashank Yelve
Member: Rajesh Kumar Amarnath Pandey
5. Appointment of Intermediaries
The Board approved the appointment of necessary intermediaries in connection with the Rights Issue.
Additional Information
The Board Meeting commenced at 03:00 P.M. and concluded at 05:00 P.M. on June 10, 2026.
The Company will separately intimate the Record Date for the Rights Issue in accordance with Regulation 42 of SEBI Listing Regulations.
The disclosure is made pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 November 11, 2024 and SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
