Party Cruisers Approves Rights Issue to Raise Up To ₹24 Crores through Equity Shares
Party Cruisers Limited announced that its Board of Directors has approved a strategic rights issue aimed at raising up to ₹24 crores. The decision was made during a Board meeting held on June 19, 2026, authorizing the company to raise funds by issuing and allotting equity shares to eligible shareholders.The approval covers the issuance of equity shares having a face value of ₹10 each. The rights issue is set to provide capital for the company up to an aggregate amount not exceeding ₹24 Crores. The terms regarding the Rights Issue, including the share price, the record date, and payment terms, will be determined later by the designated Right Issue Committee in accordance with applicable laws.
In addition to sanctioning the funding mechanism, the Board meeting addressed several key corporate governance matters. The company approved the constitution of a dedicated Rights Issue Committee. Members appointed to this committee include Mr. Zuzer Hatim Lucknowala, Managing Director; Ms. Rachana Lucknowala, Managing Director; Mr. Firoz Lucknowala, Director and Chief Financial Officer; and Mr. Sameer Prem Bhagat, Non-Executive Independent Director.
The Board also confirmed the appointment of external agencies essential for the issuance process. M/s. Brickwork Ratings India Private Limited was appointed as the Monitoring Agency for the issue, while M/s. Kfin Technologies Private Limited was designated as the Registrar to the Rights Issue. Furthermore, notice for convening an Extra-Ordinary General Meeting (EGM) regarding the increase in the company’s authorized Share Capital was approved. Ms. Zalak Bhavik Mehta, proprietor of M/s. Zalak Mehta & Associates and a Company Secretary, was appointed as the Scrutinizer for the EGM.
The essential details regarding the security issuance are provided below:
| Particulars | Details |
|---|---|
| Type of Securities Proposed | Equity Shares |
| Type of Issuance | Rights Issue |
| Maximum Amount Targeted | Up to Rs. 24 Crore |
PARTYCRUS Stock Price Movement
As of 1:42 PM, Party Cruisers Limited shares trade steady near their previous close, holding firm at ₹100 after registering zero percentage change in the live market trading session. The equity remains tightly priced amidst afternoon activity, reflecting a stable environment as traders digest limited volume at the current valuation.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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