Automobile Products of India Limited has finalized the complete terms of its rights issue following the board meeting held on April 03, 2026. The board has approved comprehensive details including the issue price, entitlement ratio, and confirmed the record date as April 09, 2026, for its ₹14,00,000 equity fundraising initiative.

Board Meeting Outcome and Rights Issue Structure

The board meeting, which commenced at 05:30 p.m. and concluded at 07:00 p.m., approved the issuance of 14,00,000 fully paid equity shares of face value ₹1 each, aggregating to ₹14,00,000. The rights issue maintains a competitive pricing structure with shares offered at par value.

Entitlement Ratio and Eligibility

The board has fixed the rights entitlement ratio at 19:10, meaning eligible shareholders will receive 19 new equity shares for every 10 existing shares held as on the record date. The company will ignore fractional entitlements as per SEBI Rights Issue Circular dated January 22, 2020.

Comprehensive Timeline and Key Dates

The company has established a detailed schedule for the rights issue process, with specific dates for each phase of the offering. The rights entitlements will be credited to eligible shareholders' demat accounts under the new RE-ISIN INE0NY120012 prior to the issue opening.

Documentation and Regulatory Compliance

The board has adopted and approved the Letter of Offer and other issue-related documents to be filed with BSE Limited and the Securities and Exchange Board of India. Company Secretary and Compliance Officer Ankit Patel has signed the official communication, ensuring proper regulatory disclosure under Regulation 30 of the Listing Regulations.

The Letter of Offer will be dispatched to eligible equity shareholders as on the record date in due course, in compliance with applicable laws and regulations. The board retains the right to extend the issue period as determined, provided the issue does not remain open for more than 30 days from the opening date.

Automobile Products of India Limited has received an adverse order from the Income Tax Department, resulting in a significant financial impact of Rs 14.01 crores. The company disclosed this development under Regulation 30 of SEBI listing regulations on March 31, 2026.

Income Tax Order Details

The Principal Commissioner of Income Tax, Mumbai-6, issued an order dated March 30, 2026, rejecting the company's revision petition filed under Section 264 of the Income Tax Act, 1961. The order upholds the additions to income made by the Jurisdictional Assessing Officer for Assessment Year 2015-16.

The additions were made under Section 147 read with Section 144 of the Income Tax Act by the Jurisdictional Assessing Officer. The penalty has been imposed under Section 271(1)(c) of the Act.

Company's Response

Automobile Products of India Limited has indicated that it is currently examining the said order and will take appropriate legal steps in due course. The company received the order on March 30, 2026, at approximately 11:38 AM.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information has been simultaneously disseminated on the company's website at the investor relations section.

Financial Impact Assessment

The total financial impact on the company extends to the aforementioned tax demand and penalty amounts. This development pertains to Assessment Year 2015-16, indicating a matter that has been under dispute for several years before reaching this stage of rejection at the revision petition level.