Intimation of In Principal approval recived from BSE Limited and MSEI for the Right Issue of equity shares by Tirupati Innovar Limited
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Tirupati Innovar Ltd (formerly Tirupati Tyres Limited) has received in-principle approval from both BSE Limited and Metropolitan Stock Exchange of India (MSEI) for a proposed rights issue of fully paid-up equity shares. The rights issue size is up to Rs. 47 crore (Rs. 47,00,00,000). The company filed its application on December 12, 2025, and received BSE approval on April 20, 2026, followed by MSEI approval on April 22, 2026. The specific issue price, ratio, and record date are yet to be finalized and disclosed. The approvals are subject to compliance with SEBI ICDR Regulations, Companies Act 2013, and other statutory requirements. This filing is made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The rights issue approval indicates the company is raising capital from existing shareholders. The Rs. 47 crore size is significant relative to the company's scale. For existing shareholders, this may be dilutive unless they participate fully. The stock may see pressure if the market perceives the capital raise as necessary for financial support or if the issue price is at a discount.