Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 as amended from time to time and pursuant to implementation of ....
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The Board of Directors of RNIT AI Solutions Ltd (formerly Autopal Industries Ltd), at its meeting on November 1, 2025, approved the allotment of 47,33,463 equity shares of face value INR 10 each to 14 strategic investors (all in the public category) at a price of INR 44 per share, which includes a premium of INR 34 per share. The total capital raised is approximately INR 20.83 crore (INR 20,82,72,372). This allotment is part of a larger 1 crore share issue and is being carried out pursuant to the Resolution Plan approved by the NCLT Jaipur Bench, under the Insolvency and Bankruptcy Code, 2016. The largest single allottee is Ramana D V Nimmakayala, receiving 20,45,454 shares (about 2.57% post-allotment stake). Sanjay Katkar is the next largest at 4,55,000 shares.
This signals the company's emergence from the corporate insolvency resolution process (CIRP) with fresh equity capital, which is broadly positive for the business. However, existing shareholders will face dilution as around 47 lakh new shares are being issued, and the shares are going to specific pre-identified strategic investors rather than the open market.