Press release on completion of Preferential Allotment aggregating to Rs. 26.33 Crore.
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RNIT AI Solutions has completed a preferential allotment of 52,66,537 equity shares at Rs. 50 per share (face value Rs. 10, premium of Rs. 40), raising approximately Rs. 26.33 crore. The allotment was approved by the Board on March 28, 2026 and completed on March 31, 2026, pursuant to a Resolution Plan approved by the NCLT Jaipur Bench in September 2024. Shares were issued to strategic investors, Alternative Investment Funds (AIFs), and High Net-Worth Individuals (HNIs) under the Public (Non-Promoter) category. The company (formerly Autopal Industries) is focused on AI and digital transformation solutions, and proceeds will fund expansion in AI-led government and enterprise solutions, strengthening technology platforms, and working capital needs.
This is a positive development showing investor confidence in RNIT's turnaround story post-NCLT resolution, with capital raised at a strong 5x premium to face value. Existing shareholders will face dilution from the new shares, but the fresh capital supports growth initiatives in the AI and digital governance space.