Pursuant to second proviso to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors in their meeting ....
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The Board of 7NR Retail met on 26th May 2025 and approved a Rights Issue of 2,80,06,800 equity shares at Rs. 10 each, raising up to Rs. 28 crore from existing shareholders in a 1:1 ratio (one new share for every share held). The record date for eligibility is fixed as 9th June 2025. To make room for the issue, authorized share capital is being doubled from Rs. 28 crore to Rs. 56 crore. The Board also appointed a new Statutory Auditor (M/s. S S R V & Associates) after the previous auditor resigned, along with new Secretarial and Internal Auditors. An Extraordinary General Meeting (EGM) has been scheduled for 20th June 2025 via video conferencing to seek shareholder approval.
Existing shareholders will get the right (but not the obligation) to buy one additional share at face value (Rs. 10) for every share they own, effectively doubling their holdings if fully subscribed. The share count will roughly double post-issue, which could dilute earnings per share unless profits also grow at a similar pace.