Aspira Pathlab board approves rights issue of up to Rs. 65,00,00,000

• Type of action: Rights issue (referred to as “Right Issue” in the letter)
• Maximum issue size: Rs. 65,00,00,000/- (Rupees Sixty Five crores only)
• Instruments: "either equity or any other convertible instruments"
• Eligible shareholders: Equity shareholders of the Company as on the Record date (to be notified subsequently)
• Regulatory framework cited: Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI Listing Regulations, relevant SEBI circulars, and Companies Act, 2013
• Approvals: Subject to shareholders and regulatory approval, if any
• Record date: Not yet decided; to be fixed later by the Right Issue Committee
• Rights issue price: Not yet determined
• Rights entitlement ratio: Not yet determined

The board has approved the proposal "to raise Fund for an amount not exceeding Rs. 65,00,00,000/-(Rupees Sixty Five crores only), through a Right Issue to the eligible equity shareholders of the Company as on Record date (to be notified subsequently), in accordance with applicable laws".

The letter further states that "The rights issue will be either equity or any other convertible instruments." The exact structure, including the type of instrument, will be finalized later.

Shareholders will be eligible to participate in the rights issue if they hold equity shares of Aspira Pathlab & Diagnostics Limited on the record date, which the company has not yet announced. The board’s outcome letter specifies that the record date will be "notified subsequently".

Until that record date is fixed and disclosed, investors do not yet have a confirmed cut-off day for eligibility.

To move the process forward, the Board has also approved the constitution of a Right Issue Committee "to proceed with the Right Issue and, inter-alia, decide the other terms and conditions of the Right Issue, including deciding on the Record date, determining the rights issue price, rights entitlement ratio, appointment of intermediaries and other related matters."

As per the table in the board's outcome letter, the Right Issue Committee is composed as follows:

• Mr. Nikunj Velji Mange – Chairman
• Mr. Vaibhav Odhekar – Member
• Mrs. Kiran Raghavendra awasthi – Member
• Mr. Balkrishna Subhash Talawadekar – Member

The meeting of the Board of Directors commenced at 4.00 PM and concluded at 04.30 PM, according to the same communication.

The filing does not provide a detailed timetable for the rights issue. The schedule for key milestones such as:

• announcement of the record date,
• opening and closing dates of the rights issue,
• credit of rights entitlements, and
• listing of the new securities,

will be decided and announced later by the Right Issue Committee and the company, subject to shareholders and regulatory approvals where required.

The outcome letter is signed "For Aspira Pathlab & Diagnostics Limited" by Nikunj Velji Mange, Managing Director, DIN: 08489442.