Kanel Industries Ltd's Board Approves Rights Issue, Reconstitutes Committees Following Director Changes

Kanel Industries Ltd's Board Approves Rights Issue, Reconstitutes Committees Following Director Changes​

Kanel Industries Limited announced several material corporate decisions following its Board of Directors meeting held on July 30, 2026. The Board approved a plan for fundraising through a rights issue while also noting changes in the composition of independent directors and reconstituting key company committees.

The company’s Board approved the offer and issuance of fully paid-up equity shares via a Rights Issue to eligible shareholders. Under this initiative, the company plans to raise up to Rs. 17 Crore (Rupees Seventeen Crore) through the issue of Equity Shares, which have a face value of Rs. 10/- each. The terms and conditions pertaining to the Rights Issue—including the determination of the price, the Rights Entitlement ratio, and the record date—will be decided by the Board or the designated Rights Issue Committee subsequently.

Director Appointments and Changes​

The meeting saw the appointment of Ms. Pooja Khakhi as an Additional Director and Non-Executive Independent Director (NEID) of Kanel Industries Limited, effective July 30, 2026. Ms. Khakhi was appointed following her profile detailing over ten years of experience in Corporate Laws, Secretarial Compliance, Corporate Governance, Regulatory Affairs, and SEBI Compliances. She is a qualified Company Secretary, Law Graduate (LL.B.), and Commerce Graduate.

Simultaneously, the Board noted the resignation of Ms. Jasmin Doshi as a Non-Executive Independent Director, effective from the close of business hours on July 30, 2026. The company recorded that the reason for the resignation was a change in management and control consequent to the completion of an open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Committee Reconstitution​

In light of these changes in director composition, the Board took action to reconstitute the Audit Committee, the Stakeholders Relationship Committee, and the Nomination and Remuneration Committee. The committees were reconstituted by replacing Ms. Jasmin Doshi with Ms. Pooja Khakhi.

Stock Price Movement​

Kanel Industries Ltd. finished the trading day on Monday having ticked up 4.99%, settling at ₹60.34. This movement was entirely locked as the stock traded completely flat, with both the intraday high and low registering at ₹60.34.