Raising of Funds upto 12 crore through Right Issue subject to applicable approval including approval to increase Authorized Share capital and other related business Transaction
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The Board of Directors of Shantidoot Infra Services Ltd, at its meeting on March 31, 2026, approved raising of funds up to ₹12 crore through a Rights Issue of equity shares (face value ₹10 each) to existing eligible shareholders, with the record date to be notified later. To accommodate this, the Board also recommended increasing the Authorised Share Capital from ₹3 crore (30 lakh equity shares) to ₹13 crore (1.3 crore equity shares), subject to shareholder approval. Additionally, the Board approved a Material Related Party Transaction with Right Path Foundation, revising the construction cost of the Gautam Medical College & Hospital project from ₹242 crore to ₹273 crore, an increase of ₹31 crore due to the inclusion of an additional hostel block area of about 2,02,556 sq. ft. The RPT value is approximately 904% of annual turnover and requires shareholder approval, with related parties abstaining from voting. An Extra Ordinary General Meeting has been called for April 25, 2026 to seek these approvals.
For existing shareholders, the Rights Issue offers the opportunity to subscribe to additional shares in proportion to their current holding, though the price and entitlement ratio are yet to be decided. The material RPT cost revision of ₹31 crore is significant relative to the company's turnover and may draw shareholder scrutiny. Dilution risk exists for shareholders who do not participate in the Rights Issue.