Pulsar International Limited has officially approved the complete schedule and documentation for its 5:1 rights issue following a board meeting held on December 23, 2025. The board meeting, conducted at the company's registered office in Ahmedabad, Gujarat, finalized all operational aspects of the capital raising initiative with a confirmed opening date of December 31, 2025.

Board Meeting Outcomes and Approvals

The Board of Directors meeting commenced at 12:00 PM and concluded at 12:40 PM on Tuesday, December 23, 2025, at the registered office located at Vibrant Mega Industrial Park, Ahmedabad. The board approved the Letter of Offer, Abridged Letter of Offer, and other issue materials to be filed with BSE Limited and dispatched to eligible equity shareholders as on the record date of December 22, 2025.

Rights Issue Schedule and Timeline

The board has established a comprehensive timeline for the rights issue process, with the issue opening on December 31, 2025, and closing on January 19, 2026. The last date for on-market renunciation of rights entitlements has been set for January 13, 2026, providing eligible shareholders with sufficient time for decision-making.

ISIN Allocation and Technical Details

Pulsar International has been allocated the International Securities Identification Number (ISIN) INE183U20014 specifically for the Rights Entitlement (RE) credit process. The rights entitlements of eligible equity shareholders will be credited to their respective demat accounts under this ISIN prior to the issue opening date.

Regulatory Compliance and Flexibility

The communication to BSE Limited, made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensures full regulatory compliance. The board has retained the right to extend the issue period as determined from time to time, provided the total duration does not exceed 30 days from the opening date. Additionally, no withdrawal of applications will be permitted after the issue closing date.

Eligible equity shareholders are advised to ensure that renunciation through off-market transfer is completed such that rights entitlements are credited to the demat account of the renouncee(s) on or prior to the issue closing date, facilitating smooth participation in this significant capital raising exercise.

Pulsar International Limited has announced a key board change with the resignation of one of its independent directors due to personal reasons.

Director Resignation Details

Mr. Kaushik Kiritkumar Modi (DIN: 09462028) has resigned from his position as Additional (Non-Executive) Independent Director of Pulsar International Limited, effective from the close of business hours on December 18, 2025. The resignation was communicated through a formal letter dated December 18, 2025, citing personal reasons for his departure.

The key details of the resignation are presented below:

Regulatory Compliance and Confirmation

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to BSE Limited, where the company's shares are listed under scrip code 512591.

As required under Regulation 30 read with Schedule III, Para A, Clause (7B) of SEBI (LODR) Regulations, 2015, the company has received confirmation from Mr. Modi through his letter dated December 18, 2025, stating that there are no material reasons for resignation other than those mentioned in his resignation letter.

Resignation and Confirmation Letters

In his resignation letter addressed to the Board of Directors, Mr. Modi expressed gratitude to the management and staff for their support and assistance during his tenure. He wished the organization and his colleagues a bright and prosperous future. The resignation letter was submitted from his Ahmedabad address.

Additionally, Mr. Modi provided a separate confirmation letter as required by SEBI regulations, explicitly stating that there are no other material reasons for his resignation beyond those stated in his original resignation letter. This confirmation enables the company to make appropriate disclosures to stock exchanges and other regulatory authorities.

Corporate Governance Impact

The resignation represents a change in the company's board composition, specifically affecting the independent director structure. The company has indicated that necessary intimations will be made to the Registrar of Companies and other relevant authorities as required under corporate governance norms.

Pulsar International Limited, incorporated in Gujarat with CIN L46209GJ1990PLC152223, continues its operations from its facility at Vibrant Mega Industrial Park in Ahmedabad. The board change comes as part of the normal course of corporate governance transitions.