1. Considered and approved the Offer and issuance of fully paid-up equity shares of the Company for an amount not exceeding Rs. 35,00,00,000/- (Rupees Thirty Five Crore Only) by way of rights issue to the existing eligible equity shareholders of the company as on the record date (to be determined and notified subsequently) in accordance with the applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), 2018, as amended, the Companies Act, 2013 and subject to such approvals, as may be required under the applicable laws (hereinafter referred to as Rights Issue ).;2. The Board also approved the constitution of a Rights Issue Committee (herein after referred to as Committee/RIC ) for the said Rights Issue to decide the terms and conditions of the Rights Issue including but not limited to the rights entitlement ratio, the issue price, record date, timing and terms of payment of the Rights Issue and other related matters thereto;3. Approved the objects of the Rights Issue
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The Board of Baid Finserv Limited has approved raising up to Rs. 35 Crore through a Rights Issue of fully paid-up equity shares to existing eligible shareholders. A Rights Issue Committee has been formed to decide key terms including the entitlement ratio, issue price, record date, and payment terms. The pricing, discount to market price, and record date are yet to be determined and will be notified later. The funds will be raised in compliance with SEBI's ICDR Regulations, 2018 and the Companies Act, 2013.
Existing shareholders will get the opportunity to maintain their ownership stake by subscribing to the issue, though non-participation may lead to dilution. The Rs. 35 Crore raise is a moderate-sized capital infusion, and the actual impact on the stock will depend on the issue price and entitlement ratio, which are yet to be announced.