Tirupati Tyres Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 10/04/2025 ,inter alia, to consider and approve To issue of equity shares of ....
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Tirupati Tyres Limited has informed BSE that its Board of Directors will meet on April 10, 2025 to consider and approve a Rights Issue of equity shares with a face value of Rs. 10 each, for an aggregate amount not exceeding Rs. 49 crore. The board will also decide key terms including the issue price, entitlement ratio, record date, and payment mechanism. The Rights Issue will be carried out under SEBI (ICDR) Regulations, 2018 and the Companies Act, 2013. The announcement was made on April 7, 2025 by Director Pavankumar Patel.
A Rights Issue of up to Rs. 49 crore could dilute existing shareholders who choose not to subscribe, but gives eligible shareholders the right to maintain their stake. The final pricing, entitlement ratio, and use of proceeds are yet to be disclosed, which will determine whether the move is value-accretive or dilutive.