Outcome of Board Meeting held on May 26, 2026
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The Board of Directors of Carnation Industries Limited approved a Rights Issue of fully paid-up equity shares with face value Rs. 10 each, for an aggregate amount not exceeding Rs. 50 Crores. The issue is intended to achieve the minimum public shareholding threshold as required by SEBI regulations, and to fund the business requirements of the Company. The Board has authorized necessary actions including appointment of intermediaries, advisors, and obtaining statutory approvals for implementing the Rights Issue. The meeting was held on May 26, 2026 at the Corporate Office in Delhi and concluded at 01:25 PM.
Existing shareholders will face dilution as the rights issue offers shares to eligible equity shareholders. The capital raise will help the company meet regulatory public shareholding norms while also providing funds for business growth.