Board approves Rights Issue fund reallocation and QeApps acquisition

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AI summary

Board approved reallocation of Rights Issue proceeds, with the total unchanged at about 60.18 crore. Key shifts: 660 lakhs moved from global market expansion, 400 lakhs from QeMatic robotic automation dropped as a separate object, 240 lakhs from organizational transformation, and a new 1,200 lakhs allocated toward acquiring QeApps. Rights Issue call timeline extended beyond the original Dec 19, 2026 deadline. Separately, approved acquisition of 100 percent in QeApps for 12 crore via share purchase agreement, making it a wholly owned subsidiary. AGM set for Sep 28, 2026.

Likely market impact

Fund reallocation drops QeMatic as a separate object and directs 12 crore toward QeApps buyout, subject to shareholder approval at Sep 28 AGM.