Akshar Spintex Limited — Capital/Financing Update 2024

Aug 17, 2024

Date :17[th] August, 2024

	Date :17th August, 2024
To,	To,
The Manager (Listing Department)	The Manager (Listing Department)
BSE Limited,	National Stock Exchange of India Limited,
1st Floor, New Trading Ring,	Exchange Plaza, 5th Floor, Plot No. C/1, G-
P.J. Tower, Dalal Street, Fort	Block, Bandra Kurla Complex, Bandra (East),
Mumbai – 400 001.	Mumbai – 400 051, Maharashtra
(BSE Scrip Code: 541303)	(NSE Scrip Code: Akshar)

Sub: Outcome of Meeting of Board of Directors of Akshar Spintex Limited (“Company”)

Dear Sir/Madam,

This is in furtherance to the meeting of the Board of Directors of the Company held on April 12, 2024 and April 30, 2024, we hereby inform you under Regulation 30, Regulation 42 and any other Regulation of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 68 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, that the Board of Directors of the Company at its meeting held on Saturday, August 17, 2024 at the registered office of the Company at Revenue Survey No.102/2 Paiki, Plot No. - 2 Village: Haripar, Ranuja Road, Tal: Kalavad, Jamnagar – 361 013, Gujarat, India, which commenced at 4.00 P.M.and concluded at 4.45 P.M. has approved the following terms and conditions:

• a) Rights Issue Size: Total Rights issue size is Rs. 4874.81 Lakhs.

• b) Total No. of Equity Shares: 48,74,80,500 (Forty-Eight Crores Seventy-Four Lakhs Eighty Thousand Five Hundred) Fully paid-up Equity Shares aggregating to Rs. 48,74,80,500/(Rupees Forty-Eight Crores Seventy-Four Lakhs Eighty Thousand Five Hundred only).

• c) Right Issue Price: Re.1/- (Rupee One Only) per equity share at par having Face Value of Re.1/- (Rupee one) per Equity Share.

• d) Rights Entitlement Ratio: 13 (Thirteen) Rights Equity Shares for every 8 (Eight) Equity share held by the eligible shareholders as on the Record date.

• e) Record Date: Friday, August 23, 2024 for the purpose of determining the shareholders who shall be eligible to receive the Rights Entitlement in the Issue.

• f) Issue Opening Date: Monday, September 9, 2024

• g) Last date for Market Renunciation: Tuesday, September 24, 2024

• h) Issue Closing Date: Monday, September 30, 2024

• i) Other Terms of Right Issue (including Zero & Fractional Entitlements): As included in the Letter of Offer to be filed by the Company with BSE Limited and National Stock Exchange of India Limited.

Further, in terms of SEBI Master Circular dated June 21, 2023 the Company has made necessary arrangement with NSDL and CDSL for the credits of the Rights Entitlements in dematerialized form in the demat account of the eligible equity shareholders as on the Record Date. The International Securities Identification Number (ISIN) for the purpose of credit of dematerialized rights entitlement is INE256Z20017.

The Rights Entitlement of the eligible equity shareholders as on the Record Date, shall be credited prior to the issue opening date, in the respective demat account of the eligible equity shareholders under the aforementioned ISIN.

Further, the Board approved the ‘Letter of Offer’ to be filed with the BSE Limited and National Stock Exchange of India Limited along with the Abridged Letter of Offer (ALOF’), Rights Entitlement Letter (REL), and Common Application Form (CAF). The designated stock exchange in relation to the Right Issue will be the BSE Limited, as approved by the Board.

You are requested to take the same on your record.

For, Akshar Spintex Limited

Digitally signed by Gadhiya Amit Vallabhbhai DN: c=IN, o=Personal, title=2737, pseudonym=94caed4955ba49c2850269b6067ce20a, 2.5.4.20=b9f2baf40fe393d04773298b23d357a097f07d Gadhiya Amit 8ebf90b8648d928d130a98e6c5, postalCode=360001, st=Gujarat, serialNumber=d054b759e418741c3cd142cbe1ca39f73 Vallabhbhai 9753b04f9a3a1e7a1bef2d3ce5add9d, cn=Gadhiya Amit Vallabhbhai Date: 2024.08.17 16:51:43 +05'30' _______________

Amit Vallabhbhai Gadhiya Managing Director (DIN: 06604671)