Salem Erode Investments Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/03/2026 ,inter alia, to consider and approve the proposal to supersede ....
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Salem Erode Investments has called a Board meeting on March 24, 2026 to supersede its earlier Rights Issue approval (dated April 04, 2025) and grant fresh approval for the same. The new proposal reduces the Rights Issue size from Rs. 5,000 Lakhs to Rs. 2,293.11 Lakhs, with equity shares of face value Rs. 1 each offered to existing eligible shareholders. The re-approval is needed to take advantage of SEBI's New Simplified Regulations for Rights Issues (notified March 3, 2025, effective April 8, 2025), which make the process faster and cheaper. The company clarified that no new or additional shares are being issued — only a fresh approval for the same original plan. The trading window for insiders has been closed from March 19, 2026 till 48 hours after the Board meeting outcome.
Existing shareholders will be offered the chance to subscribe to a smaller Rights Issue of up to Rs. 2,293.11 Lakhs (down from the earlier Rs. 5,000 Lakhs plan). The reduced size means lower dilution potential but also a smaller capital raise, with the process expected to be quicker under new SEBI rules.