Tirupati Innovar Ltd Receives In-Principle Approval for Proposed Rights Issue of Equity Shares
Tirupati Innovar Ltd, formerly known as Tirupati Tyres Limited, has secured in-principle approvals from both BSE Limited and the Metropolitan Stock Exchange of India Ltd (MSEI) for its proposed rights issue of equity shares.The company's proposed rights issue details, as reported following the approvals, cover a total size of up to Rs. 47,00,00,000/-.
According to the approval notice from MSEI, the details of the proposed rights issue are structured as follows:
| Parameter | Detail |
|---|---|
| Total Issue Size | Up to Rs. 47,00,00,000/- |
| Share Type | Equity Shares of Rs. [e] each |
| Issue Price | Rs. [e] (at a premium of Rs. [e] per share) |
| Rights Ratio | [e] rights equity shares for every [e] equity shares held |
The approvals received mark a significant milestone for Tirupati Innovar Ltd as it moves forward with the capital raise plan.
Tirupati Innovar Ltd received the in-principle approval from BSE Limited via a letter dated April 20, 2026, and from MSEI via a letter dated April 22, 2026.
The grants of in-principle approval for the rights issue are subject to the company fulfilling various statutory and operational requirements. The approvals are conditional upon the company ensuring compliance with all applicable laws and guidelines, including regulations set forth by the statutory authorities.
Stock Price Movement
As of 11:20, Tirupati Innovar Ltd shares are edging higher, currently trading at ₹8.68, up 5.72% for the day. The stock has seen movement today, fluctuating within a range established between ₹8.60 and ₹8.75.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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