MPS Limited — QIP/Rights/Pref., 28-02-2025: Qualified Institutional Placement

MPS Limited has announced a board meeting where it approved raising up to INR 300 Crores through the issuance of equity shares or equity-linked securities via a Qualified Institutions Placement (QIP). The funds are aimed at enhancing the company's capital structure. Additionally, the board modified the terms of Mr. Rahul Arora's re-appointment and remuneration as the CEO, due to his change in residential status from Resident to Non-Resident. A postal ballot will also be conducted to seek shareholder approval on the capital raise and board appointments.