Rights Issue Background

The company had previously issued a First and Final Call of ₹3.75 per partly paid-up equity share on 8,94,44,384 partly paid-up equity shares. These shares have a face value of ₹5 each, with ₹1.25 already paid-up, bearing ISIN: IN9428B01029 ("Rights Equity Shares").

These shares were allotted on Monday, February 23, 2026, pursuant to a Letter of Offer ("LOF") dated January 30, 2026, with a Record Date fixed as Monday, April 27, 2026.

Of the total issue size of ₹49,33,21,420 (at ₹5 per rights share), the company had initially received ₹12,33,30,355 as application money corresponding to ₹1.25 per rights share on 9,86,64,284 partly paid-up equity shares prior to allotment.

Call Money Receipt

During the Call Money Period from Monday, June 22, 2026 to Monday, July 06, 2026, the company received an aggregate call money amount of ₹2,23,33,184.00 on 59,55,513 partly paid-up equity shares.

Board Meeting Decisions (July 07, 2026)

The Board of Directors approved:

(i) Conversion of 59,55,513 partly paid-up equity shares (face value ₹5 each, ₹1.25 paid-up, ISIN: IN9428B01029) into fully paid-up equity shares (face value ₹5 each, ₹5 paid-up, ISIN: INE428B01021) referred to as "Converted Rights Equity Shares."

The company is completing necessary formalities for corporate actions and obtaining requisite listing and trading approvals for these Converted Rights Equity Shares.

Capital Structure Impact

Post-conversion, the paid-up share capital of the company will stand increased to ₹75,57,79,814.00 divided into:

  • 13,02,83,745 fully paid-up equity shares (face value ₹5 each, ISIN: INE428B01021)
  • 8,34,88,871.00 partly paid-up Rights Equity Shares (face value ₹5 each with ₹1.25 paid-up, ISIN: IN9428B01029)

Unpaid Call Money Action

For the balance 8,34,88,871.00 partly paid-up Rights Equity Shares on which the First and Final Call Money aggregating ₹31,30,83,266.25 remains unpaid, the Board has decided to issue a Reminder Notice to the holders.

This notice will provide an additional opportunity to pay the outstanding First and Final Call Money and convert their partly paid-up equity shares into fully paid-up equity shares.

The Reminder Notice will be dispatched after completion of necessary corporate action, depository credit, listing, and trading approval formalities for the current batch of Converted Rights Equity Shares.

Further details regarding the Reminder Notice, including payment period, mode of payment, and other relevant particulars, will be communicated separately to eligible holders in due course.