Esaar India Ltd Board Approves CFO Appointment and Rights Issue Plan
Esaar India Ltd, during its Board meeting held on June 10, 2026, announced significant decisions including the appointment of a new Chief Financial Officer and the approval for a planned equity rights issue. The company has also approved the formation of a dedicated committee to oversee all matters related to the proposed capital raise.The Board decided to appoint Mr. Dipesh B. Mistri as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company, effective from June 10, 2026.
Appointment of New CFO
Mr. Dipesh B. Mistri was appointed following a recommendation by the Nomination and Remuneration Committee. Mr. Mistri brings over 10 years of professional experience in finance, accounts, taxation, corporate law, and regulatory compliances. His expertise covers financial planning and analysis, budgeting, forecasting, fund management, statutory audits, internal financial controls, and preparation of financial statements according to applicable accounting standards, contributing effectively to sound financial governance.Rights Issue Approval
The Board further approved the issuance of equity shares on a rights basis for an amount not exceeding 6000 lakhs. This planned "Rights Issue" involves the issuance of fully paid-up equity shares with a face value of ₹10/- each, offered to eligible equity shareholders as on the determined record date.The Board also approved the Draft Letter of Offer (DLOF) connection with the Rights Issue and sanctioned the appointment of necessary intermediaries to facilitate the process.
Key details regarding the proposed rights issue are summarized below:
| Aspect | Detail |
|---|---|
| Security Type | Fully paid-up equity shares |
| Face Value | ₹10/- per share |
| Issuance Method | Rights Issue |
| Total Amount Limit | Not exceeding 6000 lakhs |
Committee Formation
To manage the forthcoming capital raising, the Board of Directors approved the constitution of a specialized Rights Issue Committee. This committee is tasked with undertaking and overseeing all matters related to the proposed equity shares issuance. The members appointed to the committee are:| Name | Designation |
|---|---|
| Bipin Dinesh Varma | Chairman |
| Dipti Shashank Yelve | Member |
| Rajesh Kumar Amarnath Pandey | Member |
Stock Price Movement
Esaar India Ltd settled today, with shares closing at ₹12.19, ticking up +1.92% in trading. The stock remained completely flat throughout the session, locking into the single ₹12.19 price point.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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