Shree Rajeshwaranand Paper Mills Approves 1.2 Cr Share Issue

Shree Rajeshwaranand Paper Mills Ltd announced board approval for the issue of 1,20,00,000 equity shares on a preferential allotment basis. This move is part of a resolution plan approved by the NCLT, Ahmedabad, following the Corporate Insolvency Resolution Process (CIRP). The total issue size aggregates to ₹12 Crores. The shares will be allotted to proposed allottees as detailed in Annexure-I, significantly increasing the post-allotment capital. Existing shareholders will hold 5% while new allottees will hold approximately 95% post-allotment. The company will also apply to BSE Limited for in-principle approval for listing these shares.