Outcome of the Meeting of the Board of Directors of Karnawati Innovation Limited held today i.e.Wednesday, December 24, 2025
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Awaiting price reaction for this filing.
The board of Karnawati Innovation Limited (formerly Bisil Plast Limited) approved a Rights Issue to raise up to Rs. 49 crore by issuing equity shares of Rs. 1 face value to existing eligible shareholders on a pro-rata basis. The board also approved the Draft Letter of Offer for filing with BSE. A Rights Issue Committee was constituted, chaired by Managing Director Ravikumar Kirtibhai Patel, with two other directors as members. The committee has been authorized to appoint intermediaries and take all necessary actions to execute the issue. The meeting was held on December 24, 2025, and lasted 45 minutes. The issue is subject to SEBI ICDR Regulations, LODR Regulations, and the Companies Act, 2013.
This is a dilutive fundraise — existing shareholders will get the right to buy new shares, but if they don't subscribe, their stake will be diluted. The Rs. 49 crore capital raise could strengthen the company's balance sheet for growth or working capital, though the end-use of funds is not disclosed in this filing, which may make investors cautious until more details emerge.