RNIT AI Solutions Limited's board of directors has successfully approved the issuance of 52,66,537 equity shares on a preferential basis to 18 strategic investors, raising ₹26.33 crore in the second tranche of its court-approved resolution plan. The board meeting held on March 13, 2026, concluded the deliberations for this significant capital raising initiative.

Board Meeting Outcome

The board meeting, which commenced at 2:30 PM and concluded at 3:30 PM, approved the equity issuance under Regulation 30 of SEBI regulations. The following table outlines the key details of the approved issuance:

Complete Investor Allocation Details

The equity shares will be allotted to 18 investors across the public category, with Sageone-Flagship Growth OE Fund receiving the largest allocation of 10,00,000 shares. The comprehensive allocation breakdown includes:

Several investors including Anupama K Katkar, Chhaya S Katkar, Sanjay Katkar, Aswin Gordhandas Jasapara, and Sandeep Mellampudi already held shares in the company and will increase their holdings through this preferential issuance.

Regulatory Framework and Compliance

The equity issuance operates under the Resolution Plan approved by the National Company Law Tribunal, Jaipur Bench, through its order dated September 23, 2024, under the Insolvency and Bankruptcy Code, 2016. This represents the second tranche of the overall plan to issue up to 1,00,00,000 equity shares to strategic investors under the public category.

The company has filed the necessary disclosures pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular dated January 30, 2026. The regulatory filing confirms that all proposed allottees fall under the public category as per the resolution plan provisions.

Company Operations and Documentation

RNIT AI Solutions Limited, formerly known as Autopal Industries Limited, operates from its registered office at 138 Kalyan Kunj Colony, Kalwar Road, Jhotwara, Jaipur, Rajasthan, and maintains its corporate office at Plot No. 92, 93 & 94, Kavuri Hills, Madhapur, Hyderabad. The regulatory filing was digitally signed by Company Secretary T.T.V.R. Seshan, confirming the board's approval and associated compliance measures. The company has made the complete announcement and investor details available on its website at rnit.ai/announcements for stakeholder access.

RNIT AI Solutions Limited has secured a significant contract award from Andhra Pradesh Technology Services Limited (APTSL), a Government of Andhra Pradesh undertaking, for an E-Governance project. The company received the Notification of Award on 10th March 2026 for the design, development and maintenance of modules for the Commissionerate of Collegiate Education (CCE), Government of Andhra Pradesh.

Project Scope and Timeline

The awarded project encompasses comprehensive technology solutions for the Commissionerate of Collegiate Education. RNIT will be responsible for designing and developing the required modules within a tight timeline, followed by long-term maintenance support.

Strategic Significance

This engagement represents a significant step in RNIT's expansion into the E-Governance domain, further strengthening its positioning in technology solutions for government and public sector platforms. The award marks the company's entry into delivering AI-enabled technology solutions for government digital infrastructure initiatives.

Project Classification and Structure

According to RNIT's internal project classification policy, this award falls under the Tier-2 category, indicating a project value between Rs. 1 crore to Rs. 10 crore inclusive of GST. The company maintains a structured approach to project categorization:

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The award does not constitute a related party transaction, and the promoter group has no interest in the awarding entity. This domestic contract strengthens RNIT's portfolio in the government technology solutions sector while maintaining full regulatory compliance.