Rnit Ai Solutions Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 01/11/2025 ,inter alia, to consider and approve along with other business ....
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Awaiting price reaction for this filing.
RNIT AI Solutions Ltd (formerly Autopal Industries Ltd) has called a Board meeting on November 1, 2025, to consider issuing up to 1 crore equity shares of face value Rs 10 each to strategic investors on a preferential basis. This issuance is being done pursuant to a Resolution Plan approved by the NCLT Jaipur Bench on September 23, 2024, under the Insolvency and Bankruptcy Code. The company's trading window has been closed till 48 hours after the board meeting outcome is declared. The company appears to be emerging from insolvency resolution and is implementing its revival plan through this equity infusion.
Shareholders should note that up to 1 crore new shares will be issued to strategic investors, which will dilute existing shareholding. However, this is part of a court-approved revival plan and could bring in capital and expertise to strengthen the company post-IBC. The stock may see volatility around the board meeting date.