Darshan Orna Limited has received in-principle approval from the Bombay Stock Exchange (BSE) to proceed with a rights issue of fully paid-up equity shares. The approval, granted on September 19, 2025, marks a significant milestone for the company in its capital raising efforts.

Approval Details

The BSE conveyed its approval through letter number LOD/RIGHT/VK/FIP/922/2025-26, responding to Darshan Orna's application submitted on March 07, 2025. This approval not only allows the company to move forward with the rights issue but also grants in-principle approval for listing the equity shares to be issued, subject to the completion of post-issue requirements and statutory formalities.

Key Requirements and Next Steps

As part of the approval process, the BSE has outlined several important requirements for Darshan Orna Limited:

1. Record Date: The company must fix a record date for the rights issue, providing at least three working days' advance notice to the exchange.

2. Rights Issue Price Disclosure: Darshan Orna is required to disclose the rights issue price of the equity shares at least three working days prior to the record date.

3. Compliance and Documentation: The company must comply with all legal and statutory formalities before finalizing its offer documents. This includes the responsibility for all disclosures made in or omitted from the offer documents.

4. Listing Approval: The in-principle approval for listing the new equity shares is subject to Darshan Orna completing post-issue requirements and complying with necessary statutory, legal, and listing formalities.

Additional Procedural Requirements

The BSE has also mandated specific procedural requirements for Darshan Orna Limited:

• Submission of ten printed copies of the Letter of Offer and Composite Application Form to the exchange.
• Confirmation of the completion of posting the letter of offer and composite application form to shareholders.
• Ensuring agreements are in place with all depositories for dematerialization of securities.
• Obtaining approval for the Basis of Allotment from the Designated Stock Exchange, even in cases of under-subscription.
• Appointing a qualified Company Secretary as the Compliance Officer, as per SEBI regulations.

Implications for Investors

This development opens up a potential investment opportunity for existing shareholders of Darshan Orna Limited. The rights issue, once finalized, will allow eligible shareholders to subscribe to additional shares, potentially at a favorable price.

Ritesh Mahendrabhai Sheth, Director of Darshan Orna Limited, confirmed the receipt of the in-principle approval in a communication to the BSE, emphasizing the company's commitment to keeping shareholders informed of this significant development.

As Darshan Orna Limited progresses with its rights issue plans, investors and market watchers will be keenly awaiting further details, including the rights issue price and the record date, which are crucial for making informed investment decisions.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with financial advisors before making investment decisions.

Darshan Orna Limited , a company listed on the Bombay Stock Exchange (BSE: 539884), has announced significant changes to its corporate structure and governance. The Board of Directors, in a meeting held on September 4, 2025, approved several key decisions that will shape the company's future.

Authorized Share Capital Increase

The Board has approved a proposal to double the company's authorized share capital, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The authorized share capital is set to increase from Rs. 10.01 crore to Rs. 20.20 crore. This expansion will be achieved by doubling the number of equity shares from 5.005 crore to 10.10 crore, with each share maintaining a face value of Rs. 2.00.

Appointment of New Auditors

Darshan Orna Limited has approved the appointment of new auditors for a five-year term, starting from the financial year 2025-26 to 2029-30. These appointments are subject to shareholder approval at the AGM.

Statutory Auditors

M/s. Shah Karia & Associates (ICAI Firm Registration No. 131546W), Chartered Accountants, have been selected as the new statutory auditors. Established in 2010, the firm offers a wide range of services including assurance, risk management, transaction advisory, tax and legal services, and business process outsourcing.

Secretarial Auditors

M/s. Neelam Somani & Associates, Practicing Company Secretaries, have been appointed as the new secretarial auditors. The firm brings over 10 years of post-qualification experience in secretarial and legal matters, with expertise in SEBI regulations, stock exchange listing agreements, FEMA, and company law.

Annual General Meeting

The company has scheduled its 14th Annual General Meeting for September 27, 2025, at 11:30 a.m. The AGM will be conducted through Video Conferencing / Other Audio-Visual Means, adhering to the guidelines issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.

Financial Reporting

The Board has also approved the Notice, Annual Report, and Director's Report for the Financial Year 2024-2025. These documents will be made available to shareholders as part of the AGM proceedings.

These strategic decisions reflect Darshan Orna Limited's commitment to growth and corporate governance. The increase in authorized share capital could potentially provide the company with greater flexibility for future fundraising or corporate actions, while the appointment of new auditors aims to ensure continued transparency and compliance in financial reporting.

Shareholders will have the opportunity to vote on these significant changes at the upcoming AGM, marking a pivotal moment in the company's corporate journey.