The Board of directors at its meeting held today on Saturday, 01st November, 2025 has considered and approved the matters which are attached herewith
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The board on 1 November 2025 finalised the terms of a Rights Issue of partly paid-up equity shares of face value ₹10 each. The issue size is up to ₹37.80 crore, comprising 3.78 crore shares, with ₹2.50 (25%) payable on application and the remaining ₹7.50 (75%) on future calls decided by the board. The entitlement ratio is 7 rights shares for every 3 shares held, with the record date set for 7 November 2025 and the issue opening on 17 November and closing on 26 November 2025. If fully subscribed, the company's equity base will grow from 1.62 crore shares to 5.40 crore shares, more than tripling. The issue is priced at par (₹10, no premium) since it is a partly paid-up structure where investors pay face value in two or more tranches.
For existing shareholders, this is a dilutive rights issue — if they don't subscribe they lose significant ownership (the share count can more than triple). However, the partly paid structure lowers the upfront cash outlay to ₹2.50 per share and keeps the issue at par value with no premium. Investors should watch for the future call notices since 75% of the price is owed on later dates, and consider whether they can meet those calls or buy/sell rights entitlements before 20 November.