Valiant Laboratories Limited has informed the Exchange regarding Board meeting held on July 09, 2025, wherein the Board has considered and approved 1) Fund raising via Rights Issue and 2) Appointment of the Company Secretary and Compliance Officer
VALIANTLAB · price
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The Board of Valiant Laboratories, at its meeting on July 9, 2025, approved raising funds of up to Rs. 8,146.88 lakhs (approximately Rs. 81.47 crore) through a Rights Issue of fully-paid equity shares of Rs. 10 face value. The offer will be made to existing eligible shareholders on a record date that will be notified later, subject to regulatory approvals. A Rights Issue Committee has been set up to finalise the issue size, price, entitlement ratio, record date, and appoint intermediaries. In a second decision, the Board appointed Mr. Akshay Gangurde (ICSI Membership No. A70561) as the Company Secretary and Compliance Officer (Key Managerial Personnel) with effect from July 9, 2025. Mr. Gangurde has over three years of experience in corporate secretarial practice, previously working with S H Kelkar, Saregama India, and Makarand M. Joshi & Co.
Shareholders should expect a Rights Issue offer in the coming weeks, which may require additional capital contribution to maintain their holdings. The appointment fills a key managerial position, and the share price could react to the size and pricing of the Rights Issue once announced.