JTL Defence rights issue: up to Rs 24.60 crore to public shareholders

• Type of action: Rights issue of equity shares ("Rights Issue")
• Instrument: "Fully paid-up equity shares of the Company of face value of ₹10 each" (the "Rights Equity Shares")
• Issue size (cap): "an amount not exceeding Rs 24.60 cr (Rupees Two Thousand Four Hundred and Sixty Lakhs only)" (Annexure-D, S. No. 3)
• Type of issuance: "Rights Issue to eligible Public Shareholders of the Company" (Annexure-D, S. No. 2)
• Purpose: "to achieve minimum public shareholding" (board's outcome letter, point 5)
• Record date: "as on the record date (to be determined and notified subsequently)"
• Issue price: To be determined by the Rights Issue Committee
• Rights entitlement ratio: To be determined by the Rights Issue Committee
• Timing / schedule: To be determined and disclosed in due course

The rights issue will be offered to "eligible equity shareholders of the Company (under public category) as on the record date (to be determined and notified subsequently)." This means:

• Only shareholders classified under the public category on the record date will be eligible to receive rights entitlements.
• The company has not yet announced the record date. The filing states that the record date, along with other detailed terms, will be determined by a Rights Issue Committee and "disclosed to the exchange in due course."

Investors should watch for a separate communication from the company specifying the record date and the ex-rights date once the terms are finalised.

The board has constituted a Rights Issue Committee and delegated to it the powers to finalise the detailed structure of the offer. As per the board's outcome letter and Annexure-D:

• The committee will determine "the issue price, rights entitlement ratio, record date, timing of the rights issue and terms of payment".
• These details will be communicated to the stock exchange once approved by the committee.

The filing also notes that the rights issue is "subject to the receipt of applicable regulatory, statutory approvals" and will be carried out in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013, as amended from time to time.

The company states that the "detailed terms of Rights Issue including the procedure for applying in the Rights Issue will be specified in the letter of offer". This letter of offer will be sent to eligible shareholders holding equity shares of the company as on the record date.

Alongside the rights issue proposal, the board also recorded changes in key managerial personnel:

• Cessation of Mr. Ankit Singla (M. No. A69926) as Company Secretary and Compliance Officer with effect from the close of business hours of October 13, 2026.
• Cessation of Mr. Naveen Kumar Laroiya as Chief Financial Officer with effect from the close of business hours of October 13, 2026.
• Appointment of Ms. Devangna Jain (M. No. A49863) as Company Secretary and Compliance Officer with immediate effect.
• Appointment of Mr. Saurabh Jain as Chief Financial Officer with immediate effect.

The meeting commenced at 06:30 PM and concluded at 06:55 PM, according to the board's outcome letter signed by Managing Director Pranav Singla (DIN: 07898093).