Board approves MPS compliance plan via OFS and Rights Issue

The board approved an in-principle plan to meet the SEBI minimum public shareholding requirement of 25 percent. The plan involves a two-step corporate restructuring: an Offer for Sale by the promoter group, followed by a Rights Issue subscribed exclusively by public shareholders. Nuvama Wealth Management has been appointed as advisor to manage the restructuring and ensure compliance with SEBI MPS guidelines. The board also set up a dedicated MPS Committee to oversee execution. Separately, CS Geeta Serwani was appointed as Secretarial Auditor for FY2025-26 to fill a casual vacancy.