Goyal Associates Board Approves ₹70 Crore Rights Issue

Board Meeting Outcomes

1. Rights Issue Approval: The Board approved the issuance of equity shares on a rights basis for an amount not exceeding ₹70 crore (7,000 lakhs). The Rights Issue will be conducted in accordance with the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The securities to be issued are fully paid-up equity shares of face value ₹1 each.

2. 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.

3. Rights Issue Committee: The Board approved the constitution of a Rights Issue Committee to undertake and oversee all matters relating to the proposed Rights Issue.

4. Intermediary Appointment: The Board approved the appointment of necessary intermediaries in connection with the Rights Issue.

5. Director Resignation: The Board took note of the resignation of Mr. Vuppala Naga Malleswara Rao from the office of Director of the Company, effective October 16, 2026.

6. CFO Resignation: The Board considered and approved the resignation of Ms. Munige Radhika from the office of Chief Financial Officer (CFO) of the Company, effective October 24, 2026 after closing of business hours. Her resignation email dated October 24, 2026, referenced Employee ID GAL0145.

7. New CFO Appointment: The Board considered and approved the appointment of Mr. Ajay Solanki to discharge the functions of Chief Financial Officer (CFO) on an additional-charge basis, effective October 25, 2026.

Additional Information

• The Company will separately intimate the Record Date for the Rights Issue upon finalization, in accordance with Regulation 42 of the SEBI Listing Regulations.
• Mr. Ajay Solanki's qualifications: Graduate with experience in banking sector, Direct Selling Agent (DSA) products, customer acquisition, and financial products. He holds no shares in the company and has no directorships in other listed entities.
• The disclosure includes Annexure-A with required details under Regulation 30 read with Schedule III of the Listing Regulations and SEBI Master Circular.