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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The board approved a Rights Issue of equity shares (face value Rs. 10) worth up to Rs. 65 Crores, to be offered to existing eligible shareholders on a record date to be notified later. To support this, authorised share capital is being raised from Rs. 30 Crore to Rs. 45 Crore (3 Cr to 4.5 Cr shares), subject to shareholder approval at an EGM on April 17, 2026. The company also added new objects to its MOA covering fintech, digital payments, and Bharat Bill Payment (BBPS) activities, signaling a pivot toward payment and fintech services. Additionally, Mrs. Chhayaba Dodiya resigned as CFO and Mr. Arun Madhavan Nair (brother of Managing Director Akhil Nair) was appointed as the new CFO. Remuneration of the MD and two Whole-Time Directors was also increased, pending shareholder approval.
Existing shareholders will need to subscribe to the Rights Issue or see their holding diluted; the specific use of the Rs. 65 Cr funds has not been disclosed, which may concern investors. The shift into fintech/payments via MOA changes is a strategic direction change, and the CFO swap plus director pay hikes warrant attention given the related-party nature of the new CFO.