Board Meeting held on May 26, 2026, for the purpose of achieving Minimum Public Shareholding, approved raising of funds by way of Rights Issue
Awaiting price reaction for this filing.
Carnation Industries' Board met on May 26, 2026, and approved a Rights Issue of fully paid-up equity shares (face value ₹10 each) for an aggregate amount not exceeding ₹50 Crores. The dual purpose of the issue is to help the company achieve the SEBI-mandated Minimum Public Shareholding threshold and to fund the company's general business requirements. The Board has authorized all necessary actions, including appointment of intermediaries and advisors, and obtaining statutory/regulatory approvals needed to execute the issue. The meeting lasted about 75 minutes.
The Rights Issue will dilute existing shareholders who do not participate, but is necessary for regulatory compliance. The ₹50 Crore raise should provide the company with capital to support its business operations.