Announced Mon, 29 Jun · 11:47 IST
Board okays Postal Ballot to change Rights Issue use of funds
Board & Shareholder Meetings View source PDF
NARMADA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-6.3%1-day move
₹42.70
prior close
₹42.30
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0-0.0+0.0+0.2-6.3-15.1-17.7-14.9-15.7-19.0-10.1———
Up moveDown movePending
AI summary
The board has approved a Postal Ballot through remote e-voting to seek shareholder approval for changing the object of its Rights Issue of equity shares (Letter of Offer dated 17 September 2024). The company wants to vary how the net proceeds are utilised versus what was originally stated. Mr Punit Santoshkumar Lath has been appointed as Scrutinizer for the e-voting process. Board meeting was held on 29 June 2026.
Likely market impact
Shareholders will get to vote on whether to let the company redeploy Rights Issue funds for a different purpose than originally planned.