As per the attached file.
Price
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Awaiting price reaction for this filing.
The board approved a 1:1 rights issue of 2.80 crore equity shares at Rs. 10 each (equal to face value), raising up to Rs. 28 crore from existing shareholders. The record date to determine eligibility is 9th June 2025, and an EGM is scheduled for 20th June 2025 via video conferencing. Authorised share capital will be raised from Rs. 28 crore to Rs. 56.05 crore to accommodate the new shares, requiring an amendment to the Memorandum of Association. The previous statutory auditor, M/s. Aniket Goyal & Associates, resigned, and M/s. S S R V & Associates (Mumbai) was appointed in their place for FY2025-26, subject to shareholder approval. Additionally, new secretarial auditor (Jay Pandya & Associates) and internal auditor (Umesh Khese & Co.) were appointed.
Since the rights issue is priced at face value with no premium, eligible shareholders can double their share count at par without an immediate price-arbitrage benefit. The mid-year change in statutory auditor — replacing the resigned previous auditor — is something investors should monitor closely when audited FY2025-26 results come out. Existing shareholders should act by the record date (9th June 2025) and review the Letter of Offer when dispatched.