Approval of Issuance of Equity Shares on Preferential Basis - Second Tranche
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The Board of RNIT AI Solutions Ltd, at its meeting on March 13, 2026, approved the second tranche of a preferential equity share issuance under the Resolution Plan approved by NCLT Jaipur (order dated September 23, 2024) under the Insolvency and Bankruptcy Code, 2016. The company will issue 52,66,537 equity shares of ₹10 face value at ₹50 per share (a ₹40 premium), raising approximately ₹26.33 crore. This is part of a larger planned issuance of 1,00,00,000 equity shares in total. The shares will be allotted to 18 investors, all classified under the public category, with the largest allottee being Sageone-Flagship Growth OE Fund (10 lakh shares), followed by Anupama K Katkar (7 lakh), Chhaya S Katkar (5 lakh), and Sanjay Katkar (4 lakh). The company had earlier emerged from the corporate insolvency resolution process.
Existing shareholders will face dilution as the share count rises by roughly 5.86% in this tranche alone, with more tranches expected under the NCLT-approved plan. The fund raise reflects steady execution of the post-IBC resolution plan, bringing in strategic public-category investors, which is a positive signal for the company's revival story, though retail investors should track the use of proceeds and future tranches.