Outcome of Board Meeting dated 15th May, 2025 approved by the Baord: 1.Appointment of Mr. Haresh G. Desai as Additional and Independent Director. 2.Fund raising by way of Rights issue ....
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Aplab Limited's Board of Directors held a meeting on May 15, 2025 with three key outcomes. First, Mr. Haresh G. Desai was appointed as an Additional Independent Director for a 5-year term, subject to shareholder approval. Second, the Board approved fundraising via a Rights Issue of partly paid-up equity shares up to Rs. 25 crore, open to eligible shareholders on the record date, and constituted a Rights Issue Committee to finalise terms. Third, Mr. Sanjay N. Mehta resigned as Independent Director. The company will need to comply with SEBI ICDR Regulations and the Companies Act, 2013 for the Rights Issue.
The Rs. 25 crore Rights Issue will raise fresh capital but will dilute existing shareholders' holdings unless they participate fully. One independent director exit and one appointment keeps board composition broadly stable in the short term.