Goyal Associates plans to raise up to Rs 7,000 crore through a rights issue

Goyal Associates Limited plans to raise up to Rs 7,000 crore through a rights issue of fully paid-up equity shares with a face value of Rs 1 each. The company’s board approved the draft letter of offer to be filed with SEBI and stock exchanges, and established a Rights Issue Committee to oversee the process. Additionally, the board approved the appointment of Ajay Solanki as Chief Financial Officer on an additional-charge basis, effective October 25, 2026, following the resignation of Ms. Munige Radhika. Mr. Vuppala Naga Malleswara Rao also resigned from his position as Director, effective October 16, 2026. The record date for the rights issue will be determined and notified subsequently.