Approval for raising of funds through right issue of equity shares for the sum not exceeding Rs. 36 crores by way of issue of Right shares to eligible shareholders of the Company, subject ....
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Pulsar International's board, meeting on 10 June 2025, approved three key items. First, it proposes raising up to Rs. 36 crore by issuing equity shares through a rights issue to eligible shareholders, pending shareholder and regulatory approvals. Second, the authorised share capital will be increased from Rs. 12 crore (12 crore equity shares) to Rs. 20 crore (20 crore equity shares), subject to shareholder approval. Third, M/s. J Singh & Associates has been appointed as the new statutory auditor for five years (FY2025-26 to FY2029-30), replacing M/s. H.G. Sarvaiya & Co whose tenure ends at the upcoming AGM. A postal ballot notice to seek shareholder consent will be approved on 17 June 2025.
Eligible shareholders will get the chance to subscribe to a rights issue of up to Rs. 36 crore, which may dilute existing holdings if not fully subscribed. The capital raise signals a possible expansion or debt-reduction plan, while the authorised capital hike prepares the company for the issue. Short-term stock price may react based on the rights issue pricing, which is not yet disclosed.