15% of equity stake, comprising 37,500 equity shares of face value of Rs. 10/- each at an issue. 5% of equity…

15% of equity stake, comprising 37,500 equity shares of face value of Rs. 10/- each at an issue. 5% of equity stake, comprising 12,500 equity shares of face value of Rs. 10/- each at an issue price. (“Securities”), by way of qualified institutions placement(s) (“QIP”), rights issue, preferential allotment.

A qualified institutional placement issues new shares, so existing holders own a smaller share of the same company unless the proceeds earn more than the dilution costs.

• Issue price versus the current market price
• Stated use of proceeds
• Resulting dilution as a percentage of equity
• We are expecting that to clip up to roughly around 13 to 15% in the current year, and that will also lead to a (management committed by FY27)
• We are hopeful that by the end of Q2 or early Q3 that empanelment process should be done and we should be able (management committed by Q2 FY27)