Summary of Key Information:
Nature of Filing / Announcement: Revision of preferential issue terms following NSE observations
Corporate Actions:
Preferential Issue Details:
- Total fundraising: ₹180 crore (unchanged from original approval)
- Revised issue price: ₹1,461 per equity share (increased from ₹1,418)
- Face value: ₹10 per share
- Total shares: 12,69,391 equity shares
Allottee Breakdown:
- TSF Investments Limited: 10,26,694 shares for ₹149,99,99,934
- Mr. Srivats Ram: 1,02,669 shares for ₹14,99,99,409
- Mr. Nivedita Ram: 51,334 shares for ₹7,49,98,974
- Gita Ram: 51,334 shares for ₹7,49,98,974
Regulatory Context:
- Revision follows observations from National Stock Exchange of India Limited (NSE) regarding valuation
- NSE letter dated August 27, 2026 raised valuation concerns
- Company will issue corrigendum to EGM notice for September 17, 2026 meeting
Governance:
- Original board approval: August 19, 2026
- EGM scheduled: September 17, 2026 for shareholder approval
- Company Secretary & Compliance Officer: K V Lakshmi (Lakshmi Viswanathan Kunissery)