Date: November 4, 2026
Board Meeting Outcomes
- The company provides additional disclosures regarding its preferential issue of equity shares that was approved by shareholders at the Annual General Meeting held on September 30, 2026
- These disclosures are made in connection with the company's application filed under Regulation 28(1) of SEBI Listing Regulations for obtaining in-principle approval for the proposed preferential issue
- The disclosures are additional and explanatory in nature and do not alter the material terms of the preferential issue as approved by members at the AGM
Fundraising / Financing
- The company is proposing a preferential issue of up to 82,10,786 equity shares of face value of ₹1 each
- The issue price is proposed at ₹408 per equity share, payable in cash
- The Board approved the preferential issue at its meeting held on September 1, 2026, subject to shareholder approval
- Timeline for utilization of issue proceeds: 12 months from date of allotment of shares (clarification to original AGM notice)
Ultimate Beneficial Ownership Disclosures
The ultimate beneficial owners for the proposed allottees are:
- Special Situation India Fund: Mr. Srinath Narasimhan, Mr. Pankaj Kalra, and Mr. Jigar Karania
- India Special Assets Fund III: Mr. Amit Agarwal, Mr. Navin Sambtani, and Mr. Kriti Ghosh
- ISAF III Onshore Fund: Mr. Amit Agarwal, Mr. Navin Sambtani, and Mr. Kriti Ghosh
These persons are considered/identified as UBO for disclosure purposes.
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified
Financial Results
Not Specified
Disinvestment / Strategic Actions
Not Specified