Reliable Data Services board approves ₹200 crore fundraising plan
- Reliable Data Services board approved raising up to ₹200 crore on September 21, 2026
- Funds will be raised via preferential issue, QIP, rights issue, or a combination thereof
- Proceeds will finance new projects, expansion of existing ones, and working capital needs
- Shareholder approval will be sought through a postal ballot as per regulatory requirements
*this image is generated using AI for illustrative purposes only.
Reliable Data Services board has approved a fundraising plan of up to ₹200 crore through one or more instruments, including a preferential issue, qualified institutional placement (QIP), or rights issue. The decision was taken at the company's third board meeting for FY27 held on September 21, 2026.
Fundraising details
The board's approval opens multiple avenues for the company to raise capital. The three routes under consideration are outlined below:
| Mode of fundraising | Description |
|---|---|
| Preferential issue | Allotment of securities to a select group of investors |
| Qualified institutional placement (QIP) | Issuance of securities to qualified institutional buyers |
| Rights issue | Offering of securities to existing shareholders |
The total fundraising is capped at ₹200 crore across one or a combination of these instruments. The funds will be utilized for various upcoming projects, upgradation and expansion of existing projects, and enhancement of working capital requirements.
The proposed issuance may involve equity shares, equity-linked securities, warrants, or any other eligible securities. The specific size, mode, issue price, number and nature of securities, terms and conditions, and other related matters will be determined by the board or authorized committees at an appropriate stage. This process is subject to statutory and regulatory approvals, including those from the Securities and Exchange Board of India (SEBI) under the Issue of Capital and Disclosure Requirements Regulations, 2018, and the Listing Obligations and Disclosure Requirements Regulations, 2015.
Shareholder approval
The board also approved the draft notice for a postal ballot to seek shareholder approval for the proposed fundraising and incidental matters. The company will conduct the postal ballot process in accordance with the Companies Act, 2013, SEBI regulations, and other applicable laws.
Historical Stock Returns for Reliable Data Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.58% | +2.90% | +0.17% | +15.81% | +13.68% | 0.0% |
Which specific upcoming projects or expansion plans will primarily drive the allocation of the ₹200 crore raised capital?
How might the choice between a QIP, preferential issue, or rights issue impact existing shareholder dilution and voting power?
What is the expected timeline for receiving SEBI approvals and completing the fundraising process relative to the FY27 fiscal year?
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