Scrip Code / Symbol: BSE: 533275 / NSE: SHAH
Key Points to Include:
Nature and Purpose of the Meeting
This was a meeting of the Rights Issue Committee, held to consider matters related to the company's ongoing rights issue. The primary purpose was to approve an extension of the issue closing date.
Details of Resolutions Passed
The committee considered and approved the extension of the Issue Closing Date from Wednesday, June 24, 2026, to Friday, July 3, 2026. The purpose of this extension is to provide an additional opportunity for eligible equity shareholders to exercise their rights. The extension is within the regulatory limit of 30 days from the original Issue Opening Date of June 11, 2026, as prescribed under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The rights issue itself is for the issuance of up to 10,24,68,139 fully paid-up equity shares, each with a face value of ₹1. The Issue Price is ₹4.86 per Rights Equity Share, making the total issue size up to ₹4,980 Lakhs (₹49.80 Crore). This issue is being made pursuant to the Letter of Offer dated May 21, 2026.
Financial Impact
The document confirms the ongoing capital raise of up to ₹49.80 Crore. No new financial implications from the extension itself are discussed.
Timing of the Meeting
The Rights Issue Committee meeting commenced at 11:00 A.M. and concluded at 11:40 A.M. on Wednesday, June 24, 2026. It was held at the Corporate Office of the Company.
Compliance References
The announcement is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015. The extension is justified as being within the limits prescribed by the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Any Other Material Disclosure
The document does not provide details on the use of proceeds from the rights issue, the subscription status to date, or the basis for allotment.