Minolta Finance Limited’s Board of Directors has approved the allotment of 40,00,00,000 fully paid-up Rights Equity shares. Each share has a face value of ₹1 and is offered at a price of ₹1.20, including a premium of ₹0.20. The company will also apply to stock exchanges for listing and trading approval of these shares. The board also noted the resignation of its Company Secretary and Compliance Officer, Mrs. Shefali Gupta, effective August 31, 2026, and approved the appointment of Mr. Gaurav Khandelwal to the role from September 1, 2026.
Rights Issue Approval and Allotment
Minolta Finance Limited announced today, August 24, 2026, that its Board of Directors has approved the allotment of 40,00,00,000 fully paid-up Rights Equity shares. These shares carry a face value of ₹1/- each and were issued at a price of ₹1.20/- per Rights Equity share, which includes a premium of ₹0.20/- per share to the eligible applicants. The total value of this rights issue is approximately ₹48 crore based on the number of shares and issue price.
Stock Exchange Application
Following the approval of the allotment, the company will proceed to submit an application to the relevant Stock Exchange(s). The purpose of this application is to obtain the necessary listing and trading approval for the Equity Shares that have been allotted pursuant to the Rights Issue. This step is crucial for enabling the shares to be freely traded by investors.
Changes in Key Personnel
In addition to the financial decision, the Board also accepted the resignation of Mrs. Shefali Gupta from her position as Company Secretary and Compliance Officer. Her cessation from these roles will be effective from August 31, 2026. Taking note of this, the Board has approved the appointment of Mr. Gaurav Khandelwal as the new Company Secretary and Compliance Officer. Mr. Khandelwal’s appointment will be effective from September 01, 2026. Mr. Khandelwal is described as a qualified Company Secretary with professional experience in secretarial, corporate legal, and compliance matters, having handled numerous assignments for private limited companies.
Source: BSE
