Tuni Textile Mills Ltd has scheduled a meeting of its Rights Issue Committee for July 24, 2026, to determine the specific terms of its proposed rights issue, including the price, entitlement ratio, and record date. This meeting follows a Board meeting on March 10, 2026, where the company approved the issuance of fully paid-up equity shares aggregating up to ₹49.00 Crores on a rights basis. The committee will also finalize the payment mechanism and timing of the issue.

The BSE has granted in-principle approval to Tuni Textile Mills Ltd for the listing of these equity shares via a letter dated July 14, 2026. This approval allows the company to use the exchange's name in its Letter of Offer and related advertisements, subject to specific statutory and legal formalities. The company must complete post-issue requirements and comply with necessary listing conditions.

Rights Issue Parameters

The Rights Issue Committee is authorized to decide on the final issue size, rights entitlement ratio, and issue price. The Board had previously approved the issuance of shares with a face value of ₹1 each. The company must fix a record date with at least three working days' advance notice to the exchange and disclose the rights issue price at least three working days prior to that date.

Regulatory and Compliance Requirements

Tuni Textile Mills Ltd must comply with Section 186 and 188 of the Companies Act, 2013, and Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is required to procure a certificate from the Secretarial Auditor confirming ODI compliance before filing the listing application. Additionally, the Basis of Allotment must be approved by the Designated Stock Exchange.

The company informed the exchange that the trading window for dealing in shares is closed for all Designated Persons and their immediate relatives from July 01, 2026, until 48 hours after the declaration of financial results for the quarter ended June 30, 2026. This measure is in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Promoter Pradeep Kumar Sureka has increased his shareholding in Tuni Textile Mills Ltd to 10.5859% following the acquisition of 87,13,000 shares via transmission. The shares were transferred on June 1, 2026, consequent upon the death of Late Shri Prabhudayal Sureka, a promoter of the company. This transaction was disclosed to the Bombay Stock Exchange Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and Regulation 95 of the SEBI (Issue Capital and Disclosures Requirement) Regulations, 2018.

The acquisition was executed through an off-market transmission of shares within the promoter group. Prior to this transaction, Pradeep Kumar Sureka held 51,15,500 shares, which accounted for 3.916% of the total share capital. The transfer of shares has resulted in a significant increase in his stake, solidifying his position within the promoter group.

Shareholding Details

The following table outlines the changes in the shareholding pattern of Pradeep Kumar Sureka following the acquisition:

The total equity share capital and total voting capital of Tuni Textile Mills Ltd remains unchanged at 13,06,31,000 equity shares of face value of Rs. 1/- each. The total diluted share/voting capital also stands at 13,06,31,000 equity shares. The disclosure confirmed that there are no shares encumbered or any other instruments such as warrants or convertible securities held by the acquirer.