Pressure Sensitive Systems (India) Limited, a company listed on the Bombay Stock Exchange (BSE), has announced key financial and strategic decisions in its Board Meeting held on 24th February 2025. The Board of Directors approved a substantial increase in the company’s authorized share capital, a rights issue of ₹49.5 crores, and significant board changes, all aimed at enhancing the company’s financial structure and governance.

Increase in Authorized Share Capital

One of the major resolutions passed in the meeting was the increase in the authorized share capital of the company. The Board has approved an increase from ₹22 crores to ₹63 crores, which will require shareholder approval at an Extra-Ordinary General Meeting (EGM). This increase aligns with the company’s growth plans and will provide flexibility for future fund-raising and expansion activities.

₹49.5 Crore Rights Issue Announced

In a significant move to strengthen its financial position, the Board of Pressure Sensitive Systems (India) Limited has decided to raise funds through a rights issue, offering shares to its existing shareholders. The issue will involve the issuance of fully paid-up equity shares of ₹1 face value, aggregating up to ₹49.5 crores.

The rights issue is subject to approval from regulatory authorities, including SEBI (Securities and Exchange Board of India), and compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The Rights Issue Committee, newly constituted by the Board, will finalize the following details:

• Issue size and amount
• Rights entitlement ratio
• Issue price per share
• Record date and subscription timeline
• Approval of the draft letter of offer
• Appointment of necessary intermediaries

This fund-raising initiative is aimed at boosting capital reserves, supporting business expansion, and meeting operational expenses.

Key Board Resignations and Appointments

As part of its corporate restructuring, Pressure Sensitive Systems (India) Limited announced the resignation of Mr. Parth Ashokbhai Lohana (DIN: 09832970) from his position as an Independent Director, effective 24th February 2025. His resignation letter cited personal reasons and confirmed no material concerns affecting the company’s governance.

To ensure continuity in leadership, the Board has appointed Ms. Reema Magotra (DIN: 09804839) as an Additional Director in the category of Non-Executive Independent Director for a five-year term, subject to shareholder approval at the upcoming EGM.

Ms. Reema Magotra, aged 42, holds a BA and B.Ed. in English and has over 15 years of experience in teaching. She has been a visiting faculty at various institutions, universities, and organizations. She is currently serving as an Independent Director at Alstone Textiles (India) Limited.

Extra-Ordinary General Meeting (EGM) Details

The Board of Directors has scheduled the Extra-Ordinary General Meeting (EGM) to discuss and obtain shareholder approval for the proposed changes.

• Date & Time: Monday, 24th March 2025, at 2:00 PM (IST)
• Venue: 207 Signature-01, Near Jegvayar Showroom, S.G. Highway, Ahmedabad
• E-Voting Period: Friday, 21st March 2025 (9:00 AM) to Sunday, 23rd March 2025 (5:00 PM)
• Cut-Off Date for E-Voting: Monday, 17th March 2025

The Board has appointed M/s Bhumika Ranpura & Associates as the Scrutinizer to oversee the e-voting and venue voting process.

Regulatory Disclosures under SEBI Guidelines

As required under Regulation 30 of SEBI Listing Regulations, the company has provided detailed disclosures regarding its capital restructuring and board changes:

• Type of Issuance: Rights Issue
• Securities Offered: Fully paid-up equity shares of ₹1 face value each
• Total Amount to be Raised: ₹49.5 crores
• SEBI Compliance: In line with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

The company also confirmed that there is no cancellation or termination of the rights issue proposal.

Market Impact and Future Outlook

The increase in authorized share capital and rights issue approval indicate the company's growth-oriented financial strategy. These initiatives will help in capital expansion, ensuring financial stability and enhanced shareholder value.

With the appointment of a new Independent Director and a structured fund-raising approach, Pressure Sensitive Systems (India) Limited is positioning itself for long-term sustainability and market growth.

Investors will closely watch the company’s EGM for further decisions, particularly regarding the terms of the rights issue and its impact on shareholder equity. The stock market reaction to these announcements will provide insights into investor sentiment regarding the company's future prospects.

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