Arvaya Healthcare Approves ₹210 Crore Rights Issue Draft Offer

Arvaya Healthcare Limited, formerly Bijoy Hans Limited, approved the Draft Letter of Offer for a proposed partly paid-up equity rights issue of up to ₹210 crore on November 4, 2026. The approval moves the company’s planned capital raise into the regulatory filing stage, although the issue price, entitlement ratio and record date have not yet been set.

What did Arvaya Healthcare approve on November 4, 2026?

Arvaya Healthcare approved the Draft Letter of Offer, or DLOF, for a proposed rights issue aggregating up to ₹210 crore. The company intends to issue partly paid-up equity shares to eligible equity shareholders, with the aggregate amount based on full subscription and the receipt of all call monies.

The board’s decision was taken at a meeting that began at 4:10 pm and concluded at 6:00 pm. The company will submit the DLOF to BSE Limited, its designated stock exchange, to seek in-principle approval. The outcome has also been made available on Arvaya Healthcare’s website.

The approval follows an earlier board decision on July 11, 2026 relating to the proposed rights issue. A rights issue gives existing shareholders an opportunity to subscribe to additional shares, subject to the final terms announced by the company.

Which rights issue terms remain undecided?

Arvaya Healthcare has not disclosed the issue price, rights entitlement ratio, application amount or record date for the proposed issue. These terms will be determined by the Rights Issue Committee or the board and separately communicated to the stock exchange in line with the SEBI Listing Regulations.

The use of partly paid-up shares means the subscription amount may be collected in stages rather than entirely at the time of application. The company has stated that the proposed ₹210 crore aggregate size assumes complete subscription and the receipt of all call monies. Therefore, the final funds raised will depend on the completion of these subscription and payment obligations.

What regulatory process will the proposed issue follow?

Arvaya Healthcare said the proposed rights issue is being undertaken under Section 62(1)(a) of the Companies Act, 2013 and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Section 62(1)(a) governs further share offers to existing equity shareholders, forming the statutory basis for a rights issue.

The company disclosed the board decision under Regulation 30 read with Schedule III of the SEBI Listing Regulations. It also cited SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, dated January 30, 2026. The pending BSE in-principle approval is a required regulatory step before the rights issue can proceed on final terms.

Alongside the DLOF approval, the board approved conducting a postal ballot with remote e-voting. The postal ballot will seek members’ approval under Sections 108 and 110 of the Companies Act, 2013. The announcement does not state the resolutions that will be placed before shareholders through this process.

Why does the ₹210 crore proposal matter to shareholders?

The proposed issue is material because it could add equity capital of up to ₹210 crore if fully subscribed and all call monies are received. Existing shareholders will need the final entitlement ratio, price and payment schedule to assess their participation and the implications of choosing not to subscribe.

Arvaya Healthcare had previously announced a board meeting on October 29, 2026 to consider the DLOF, the proposed rights issue’s objects and the deployment of proceeds. However, the November 4 outcome provided in the disclosure confirms the DLOF approval but does not specify the final deployment of funds.

The company has also been pursuing corporate actions during 2026. It completed the acquisition of 100% equity share capital of Sushodha Institute of Gastroenterology Private Limited, effective November 1, 2026, and had received BSE in-principle approval on October 12, 2026 for the preferential issue of 38,71,854 equity shares. These are separate transactions from the proposed rights issue.

Conclusion

Arvaya Healthcare’s approval of a DLOF for a rights issue of up to ₹210 crore is a formal advance in its planned equity fundraising process. The proposal is structured through partly paid-up shares and remains subject to BSE’s in-principle approval, final issue terms and the applicable regulatory process.

The next disclosures to watch are the issue price, record date, rights entitlement ratio, application and call-money schedule, and the details of the postal ballot. These items will establish the subscription framework for shareholders and clarify the timetable for the proposed capital raise.