Maha Rashtra Apex Corporation Limited has secured crucial regulatory approvals for its upcoming rights issue, receiving in-principle clearance from both major Indian stock exchanges. The company announced that it has obtained approval from National Stock Exchange of India Limited and BSE Limited for its proposed rights issue of equity shares.

Exchange Approvals and Timeline

The approvals were received through official communications from both exchanges in March 2026. The company had initially submitted applications to both stock exchanges in December 2025, seeking in-principle approval for the rights issue.

Rights Issue Structure

The proposed rights issue involves fully paid equity shares with specific financial parameters outlined by the exchanges. NSE's approval letter details the structure of the offering to eligible shareholders.

Regulatory Conditions and Compliance

Both exchanges have granted their approvals subject to multiple regulatory conditions that the company must fulfill. NSE has outlined five key conditions including compliance with SEBI regulations, statutory approvals, and adherence to listing obligations.

The key compliance requirements include:

• Filing listing application at the earliest from allotment date
• Receipt of statutory and regulatory approvals from SEBI, RBI, and MCA
• Compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
• Adherence to Companies Act provisions and other applicable laws
• Meeting all exchange guidelines and documentary requirements

Exchange Disclaimers and Investor Protection

Both NSE and BSE have included comprehensive disclaimer clauses emphasizing that their approval should not be construed as endorsement of the offer document's contents. The exchanges have clarified that they do not warrant the correctness or completeness of the letter of offer, nor do they take responsibility for the company's financial soundness.

BSE has specifically required the company to fix a record date with at least three working days advance notice to the exchange. Additionally, the company must disclose the rights issue price at least three working days prior to the record date.

Corporate Communication

The company has made this information available on its official website at www.maharashtraapex.com as part of its disclosure obligations. Company Secretary and Compliance Officer Jamsheed M Panday signed the regulatory communication dated March 05, 2026, confirming receipt of the approvals from both exchanges.

Maha Rashtra Apex Corporation Limited has announced its board's approval for a rights issue to raise funds for business expansion. The company disclosed this development following a board meeting held on December 18, 2025, in compliance with SEBI listing regulations.

Rights Issue Details

The board approved raising funds through the issuance and allotment of equity shares with specific parameters:

The rights issue will be offered to eligible equity shareholders as on the record date, which will be notified subsequently. The issue is subject to receipt of regulatory and statutory approvals in accordance with the provisions of Section 62(1)(a) of the Companies Act, 2013, and applicable laws including SEBI regulations.

Board Meeting Proceedings

The board meeting commenced at 12:00 Noon and concluded at 3:00 PM on December 18, 2025. The board approved several key decisions beyond the rights issue:

The Rights Issue Committee will have the authority to determine the final terms and conditions of the issue at a later date, providing flexibility in execution based on market conditions and regulatory requirements.

Regulatory Compliance and Documentation

The company has ensured full compliance with regulatory requirements for this announcement. The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary and compliance officer, Jamsheed M Panday, signed the official communication to stock exchanges.

Market Communication

The company has informed both major stock exchanges about this development:

This rights issue represents Maha Rashtra Apex Corporation's move to strengthen its capital base and fund future growth initiatives. The company will provide further details about the record date, issue timeline, and specific terms once the Rights Issue Committee finalizes the arrangements and receives necessary regulatory approvals.