Key Decisions and Approvals
The Board of Directors meeting, held on 29th June, 2026 from 11:00 AM to 11:30 AM at the Registered Office in Hyderabad, approved the following:
1. Fund Raising via Rights Issue: Approved raising funds through the issuance of fully paid-up equity shares on a rights basis to existing equity shareholders (excluding the Promoter and Promoter group). The maximum amount to be raised is Rs. 107.00 Crores (Rupees One Hundred and Seven Crores only). The issuance will comply with the Companies Act, 2013, SEBI (ICDR) Regulations, 2018, and other applicable laws.
2. Formation of Rights Issue Committee: Constituted a Rights Issue Committee and authorized it to finalize all terms and conditions of the issue. This includes, but is not limited to, determining the final issue size/amount, rights entitlement ratio, issue price, record date, issue schedule, approving the draft letter of offer, appointing intermediaries and legal counsel, and overseeing the allotment of shares.
3. Approval of Draft Letter of Offer: Approved the Draft Letter of Offer for the rights issue. The Board also authorized the application for in-principle approval from the National Stock Exchange of India Limited for the rights issue of up to Rs. 107.00 crores, as required under Regulation 28(1) of the SEBI (LODR) Regulations, 2015.
Details of the Proposed Rights Issue (Annexure-1)
Specific details of the proposed rights issue, as per SEBI Master Circular requirements, are provided:
- Type of Security: Fully paid-up Equity Shares with a face value of Rs. 10/- each.
- Type of Issuance: Rights issue to existing equity shareholders (other than Promoter and Promoter group).
- Size of Issuance: The number of equity shares and the ratio will be decided by the Board/Rights Issue Committee, for an amount not exceeding Rs. 107.00 Crores.
- Cancellation/Termination: Not Applicable.