Key Decisions and Approvals

The Rights Issue Committee, in its meeting held on Monday, 26th October, 2026, approved Friday, 30th October, 2026 as the Record Date for determining eligible equity shareholders entitled to receive Rights Entitlements in the Rights Issue.

This approval was granted pursuant to:

  • Board of Directors' approval received in the meeting held on 10.08.2026
  • In-principle approval from BSE Limited dated 16.10.2026

Rights Issue Details

  • Type of Securities: Fully paid-up Equity Shares (Rights Equity Shares)
  • Issue Size: Up to 34,08,684 fully paid-up Equity Shares of face value of ₹10 each
  • Issue Price: ₹30 per Rights Equity Share (comprising face value of ₹10 and premium of ₹20 per share)
  • Rights Entitlement Ratio: 1 Rights Equity Share for every 5 fully paid-up Equity Shares held
  • Issue Amount: Up to ₹10,22,60,520 (assuming full subscription)
  • Outstanding Equity Shares prior to Rights Issue: 1,70,43,420 Equity Shares of face value of ₹10 each
  • Nature of Issue: Renounceable Rights Issue to eligible equity shareholders

Operational Arrangements

The Company has made necessary arrangements with NSDL and CDSL for credit of Rights Entitlements in dematerialized form in the demat accounts of eligible equity shareholders as on the Record Date. The Rights Entitlement will be credited prior to the issue opening date.

BSE Approval Conditions

BSE Limited granted in-principle approval for listing of the rights shares vide letter dated October 16, 2026 (Reference: LOD/RIGHT/RB/FIP/953/2026-27), subject to the following conditions:

Disclaimer Requirements:

  • Company must include BSE's disclaimer clause in the Letter of Offer
  • For advertisements, must use specified abbreviated disclaimer text

Record Date Requirements:

  • At least three working days advance notice to Exchange before fixing record date
  • Disclosure of rights issue price at least 3 working days prior to record date

Post-Issue Compliance Requirements:

  • Complete all legal and statutory formalities before finalizing offer documents
  • Confirm completion of posting of letter of offer & composite application form
  • Enter into agreements with all depositories for dematerialization of securities
  • Provide investors option to receive allotment in dematerialized form
  • Get Basis of Allotment approved by Designated Stock Exchange (even in under-subscription)
  • Appoint qualified Company Secretary as Compliance Officer
  • Pay all applicable charges to Exchange for system usage
  • Comply with Sections 186 and 188 of Companies Act, 2013 and Regulation 23 of SEBI LODR
  • Procure Secretarial Auditor certificate confirming ODI compliance before filing listing application