Shivam Autotech Approves Rights Issue for Fund Raising and Appoints New Key Managerial Personnel
Shivam Autotech Limited has approved plans for a rights issue aimed at raising funds, alongside appointing Ms. Mehvish as Company Secretary and Compliance Officer. The decisions were made during the Board Meeting held on July 1, 2026.The board meeting approved the appointment of Ms. Mehvish as the Company Secretary and Compliance Officer (a Key Managerial Personnel) effective from July 1, 2026. Ms. Mehvish is an Associate Member of the Institute of Company Secretaries of India and possesses experience dealing with matters pertaining to the Companies Act, Listing Regulations, and allied laws.
Rights Issue Details and Fund Raising Plan
The company also approved the initiation of a rights issue for raising funds. Through this issuance, Shivam Autotech plans to raise up to an aggregate amount not exceeding ₹12,000 Lakhs. The equity shares being issued in the rights offer have a face value of Rs. 2 each.While specific details regarding the rights issue, such as the determination of the issue price, the rights entitlement ratio, the record date, and payment terms, are yet to be finalized, the Board approved the concept for seeking in-principle approvals from stock exchanges related to the proposed offering.
Details concerning the planned capital raising initiative include:
| Particulars | Details |
|---|---|
| Type of securities proposed | Equity Shares |
| Type of issuance | Rights Issue |
| Total amount proposed for issue | ₹ 12,000 Lakhs |
The company confirmed that all necessary processes are underway to implement the rights issue proposal.
SHIVAMAUTO Stock Price Movement
Today, Shivam Autotech Limited shares edged higher to settle at ₹16.19 after gaining 0.93% in post-market trading. The stock saw activity involving a volume of 11,302 shares today.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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