Key Financial Disclosures
Type of Issue: Rights Issue
Type: Rights Equity Shares
Amount to be Raised: ₹1,955.83 Lakhs (Revised from original ₹2,933.74 Lakhs)
Purpose of Proceeds:
- Repayment and/or prepayment of borrowings: ₹1,505.83 Lakhs
- General Corporate Purposes: ₹400.00 Lakhs
- Estimated Issue Expenses: ₹50.00 Lakhs
- Net Proceeds of the Issue: ₹1,905.83 Lakhs
Terms and Structure of the Issue
Face Value: Not specified
Issue Price: ₹3.17 per Rights Equity Share
Entitlement Ratio: 2 Rights Equity Shares for every 5 fully paid-up Equity Shares held as on Record Date
Number of Shares: 61,697,950 Rights Equity Shares (Revised from original 92,546,925 shares)
Post-Issue Paid-up Equity Share Capital: 215,942,824 Equity Shares
Board/Committee Decisions
Decisions made by the Board:
- Approved revision in Rights Issue size from ₹2,933.74 Lakhs to ₹1,955.83 Lakhs
- Approved revision in Objects of the Issue
- Approved Revised Letter of Offer incorporating the revisions
- Approved Corrigendum to the Letter of Offer
- Authorized Directors and/or Company Secretary to make necessary filings with Stock Exchange, SEBI, Registrar of Companies and other concerned authorities
Strategic Impact: The reduction in issue size indicates a revised capital raising strategy with focus on debt reduction (₹150.58M allocated to repayment/prepayment of borrowings) while maintaining general corporate purposes funding.
Other Noteworthy Updates
Meeting Details: The Board meeting was held on August 20, 2026, referencing Outcome of Board Meeting dated August 13, 2026. The meeting commenced at 08:00 P.M. and concluded at 09:00 P.M.
Documentation: The Revised Letter of Offer and Corrigendum were approved to incorporate the revisions and necessary corrections/modifications arising from the revised Rights Issue structure and Objects of the Issue.