The Board of Directors in their meeting held today, 27th February 2026 at 4.00 pm have considered and approved, amongst the other agenda, Rights issue of Equity Shares of face value of ....
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The board of Narmada Macplast Drip Irrigation Systems met on 27th February 2026 and approved several key items. The biggest is a Rights Issue of equity shares (face value Rs. 2) aiming to raise up to Rs. 50 Crores from existing shareholders, though the issue price and entitlement ratio are yet to be finalized. The company also appointed Mr. Bhavin Patel as an Independent Director and accepted the resignation of Mr. Girish Baldha. Additionally, the board approved expanding the company's business objects into trading of edible oil seeds, food grains, pulses, and spices — signalling a diversification beyond drip irrigation. The authorized share capital will also be raised to Rs. 22 Crores (11 crore shares of Rs. 2 each) to accommodate the rights issue. The record date for eligibility and exact terms will be decided later.
Existing shareholders should expect some dilution and will need to decide whether to participate in the Rights Issue once terms are announced. The move into agri-commodity trading marks a significant business diversification that could reshape the company's revenue mix going forward.