According to the regulatory filing, “The board approved Rs 18 crore rights issue in the ratio of 2 new equity shares for every 1 equity share held by eligible shareholders as on the record date. Further, the Board has constituted and authorized the 'Right Issue Committee' to decide detailed terms and conditions of the Issue, including but not limited to the deciding the payment modalities/schedule thereof, record date, timings, other terms and conditions, and all other related matters etc. The promoter and promoter group of the Company will subscribe to all the unsubscribed shares in the Issue if any.”