Gala Global Products Limited disclosed the outcomes of its Board Meeting held on Saturday, 12th September, 2026, which commenced at 02:15 P.M. and concluded at 03:00 P.M. The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Decisions Approved:
1. Approval of Rights Issue
- The Board approved raising funds up to ₹25.00 Crores (Rupees Twenty-Five Crores only) through a rights issue of equity shares to existing eligible equity shareholders.
- The issue will comply with Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015, and other applicable laws.
- The rights issue will consist of fully paid-up equity shares with a face value of ₹5 each.
- The specific number of shares, issue price (including premium), and rights entitlement ratio will be determined later by the Board/Rights Issue Committee.
- The Draft Letter of Offer and other relevant documents were approved for filing with BSE Limited to seek in-principle approval.
2. Constitution of Rights Issue Committee
- The Board constituted a Rights Issue Committee comprising Company Directors to implement the rights issue.
- The committee is authorized to determine and finalize: Record Date, Issue Price, Rights Entitlement Ratio, Issue Size, Issue Opening and Closing Dates.
- The committee will approve issue-related documents, appoint intermediaries/advisors, and undertake all necessary actions for implementation.
- Specific terms will be communicated to eligible shareholders as on the record date in due course.
3. Appointment of Intermediaries and Advisors
- The Board approved the appointment of:
- Registrar to the Issue (SEBI registered RTA)
- Legal Counsel and other professional advisors
- Practicing Company Secretaries/consultants
- Banker(s) to the Issue for handling application monies, ASBA, and other payment mechanisms
- Professional Advisors and Experts as required
- Authorized officials were empowered to finalize terms, execute agreements, and undertake all necessary filings and compliances with SEBI, Stock Exchanges, Registrar of Companies, Depositories, and other statutory/regulatory authorities.
Annexure I Details:
- Type of securities: Equity Shares
- Type of Issuance: Rights issue
- Total amount: Not exceeding ₹25.00 Crores
- Face value per equity share: ₹5
- Cancellation/termination: Not Applicable
Additional Information:
- The detailed terms and conditions, including application procedure, will be specified in the Letter of Offer.
- The Letter of Offer will be issued electronically to eligible equity shareholders as on the record date.
- This intimation is available on the company's website: https://www.galaglobalhub.com/