The Board approved raising funds through the issuance of partly paid-up equity shares of face value ₹10 each by way of a rights issue. The total amount to be raised is up to ₹5,000 Lakhs (₹500 Crores). The issuance is intended for eligible equity shareholders of the Company as on a record date, which is to be determined and notified subsequently.
This approval is subject to receipt of statutory and regulatory approvals, including those required under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations) and other applicable regulations.
The specific terms of the rights issue, including the issue price, rights entitlement ratio, record date, timing, and terms of payment, will be determined later by the Board and/or a newly formed Rights Issue Committee.
Rights Issue Committee
The Board formed a Rights Issue Committee with the following members:
- Divya Mojjada (Chairperson)
- Mohammed Sadiq (Member)
- Apra Sharma (Member)
Meeting Details
The board meeting commenced at 12:00 P.M. IST and concluded at 1:45 P.M. IST on September 23, 2026.
Security Details (Annexure A)
- Type of securities proposed: Equity shares, face value ₹10 each (partly paid-up)
- Type of issuance: Rights Issue
- Total amount for issuance: Up to ₹5,000 Lakhs (₹500 Crores)
- The total number of equity shares to be issued will be determined after receiving in-principle approval from the Stock Exchange.