Outcome of the Board Meeting of the Company held on May 06, 2025
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The board of Ashnisha Industries Ltd, at its meeting held on May 6, 2025, approved the Draft Letter of Offer for raising funds through a Rights Issue of fully paid-up equity shares of Re. 1 each to existing eligible shareholders. The total amount to be raised will not exceed Rs. 4923.75 lakhs (approximately Rs. 49.24 crores). The exact number of shares, price, and ratio will be decided later by the Board or Rights Issue Committee, with the record date to be notified separately. The issue is subject to in-principle approval from BSE and compliance with SEBI ICDR Regulations, LODR Regulations, and the Companies Act, 2013.
Existing shareholders will get the opportunity to subscribe to additional shares in proportion to their holdings, which could dilute shareholding if not fully subscribed. The fund raise of up to ~Rs. 49.24 crores could strengthen the company's capital base, though the purpose of the raise has not been specified.