Viceroy Hotels Limited has intimated the stock exchanges about the postponement and rescheduling of its Rights Issue Committee meeting originally scheduled for July 3, 2026.
The postponement is due to the company not having received the requisite in-principle approvals from the stock exchanges (BSE Limited and National Stock Exchange of India Limited) for its proposed rights issue. The Draft Letter of Offer is currently under review by the stock exchanges.
The company had applied for in-principle approvals for the rights issue on June 30, 2026, and had scheduled the Rights Issue Committee meeting for July 3, 2026, anticipating receipt of approvals by that date as per SEBI timelines prescribed in circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2025/31 dated March 11, 2025.
The Rights Issue Committee meeting will now be convened upon receipt of the requisite in-principle approvals from the stock exchanges.
Background Context
The rights issue was approved by the company's Board of Directors on June 29, 2026, for raising funds not exceeding ₹107.00 Crores (Rupees One Hundred and Seven Crores only) through the issue of fully paid-up equity shares on rights basis to existing equity shareholders (other than Promoter and Promoter group).
The Rights Issue Committee was intended to consider and decide various matters including determination of the Rights Issue price, Rights entitlement ratio, Record date, Schedule of the Rights Issue, and other terms and conditions relating to the Rights Issue.