Board approves Letter of Offer for proposed rights issue

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-18.8%Reaction day

₹37.00

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%-19.0% vs market

Gems, Jewellery And Watches peers, median of 39sector+0.4%-19.2% vs sector

On the reaction day the stock moved 19.0 pts less than Nifty Microcap 250 and 19.2 pts less than its Gems, Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Gems, Jewellery And Watches peers, median of 39Pending

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AI summary

Board approved Letter of Offer, Rights Entitlement Letter and other issue materials for the proposed rights issue. Record date set as Friday, August 21, 2026. Also approved Director's Report for FY ended March 2026, re-appointment of Managing Director, Whole-Time Director and Executive Director for 5 years from July 16, 2027, and 19th AGM on September 12, 2026.

Likely market impact

Rights issue process advances. Shareholders on record as of Aug 21 will receive entitlement letters. Possible dilution on completion.