Arvaya Healthcare approves Rs 210 crore rights offer draft

Arvaya Healthcare Limited approved a draft letter of offer on November 4, 2026 for a partly paid equity rights issue of up to Rs 210 crore, subject to full subscription, allotment and receipt of all call monies. The draft is to be submitted to BSE Limited for in-principle approval, while pricing and shareholder terms remain undecided.

What did Arvaya Healthcare approve on November 4, 2026?

Arvaya Healthcare approved and adopted a draft letter of offer, or DLOF, for its proposed partly paid equity-share rights issue on November 4, 2026. The board meeting was held through video conferencing or other audio-visual means, started at 4:10 p.m. and ended at 6:00 p.m. The DLOF is intended for submission to BSE Limited, the designated stock exchange, for in-principle approval.

The November 4 decision follows the board's approval of the underlying proposed rights issue on July 11, 2026. The July approval authorised the proposal, while the later decision approves the offer document for an issue of partly paid equity shares. Arvaya Healthcare's filing identifies the proposed securities as equity shares and classifies the transaction as a rights issue.

How large is Arvaya Healthcare's proposed rights issue?

Arvaya Healthcare has set an aggregate ceiling of up to Rs 210 crore for the proposed rights issue. The board outcome states the amount as Rs 21,000 lakh, which converts to Rs 210 crore, while the accompanying Regulation 30 disclosure describes the proposed amount as not exceeding Rs 210 crore.

The Rs 210 crore ceiling assumes full subscription, allotment and receipt of all call monies. Because the proposed shares are partly paid, the disclosed amount includes money payable after the initial application stage as well as the application amount. Arvaya Healthcare has not stated the application-stage collection, so the filing does not quantify immediate proceeds from the issue.

Which rights issue terms has Arvaya Healthcare not fixed?

Arvaya Healthcare has not fixed the issue price, rights entitlement ratio, amount payable on application, subsequent call amount or amounts, or record date. The Rights Issue Committee or the board, as applicable, will decide these terms and separately intimate the stock exchange under the applicable listing requirements.

Without an issue price, Arvaya Healthcare has not disclosed the number of partly paid equity shares required to reach the Rs 210 crore maximum. Without an entitlement ratio or record date, the November 4, 2026 filing also does not establish how many rights may be available to eligible shareholders or which holders will qualify.

The call-money structure remains open despite the Rs 210 crore issue ceiling. Arvaya Healthcare said it will decide the amount payable on application and the amount payable on subsequent call or calls at a later stage. The aggregate amount therefore cannot be separated between initial payments and later collections from the information disclosed on November 4.

What is the next disclosed approval step for Arvaya Healthcare?

Arvaya Healthcare will submit the DLOF to BSE Limited for in-principle approval, with BSE named as the designated stock exchange. The November 4 announcement reports the intended submission step, not receipt of approval. It does not disclose an offer-opening date, offer-closing date, allotment date or listing date for the rights shares.

The company said the proposed issuance is pursuant to Section 62(1)(a) of the Companies Act, 2013 and the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations, 2018. Its disclosure was made under Regulation 30 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015, including Schedule III requirements.

Arvaya Healthcare's filing also cites Securities and Exchange Board of India Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026, dated January 30, 2026. The company recorded no cancellation or termination of the securities-issuance proposal in the disclosure. It did not disclose use of proceeds, issue expenses, promoter participation, underwriting arrangements or dilution information.

What else did Arvaya Healthcare's board decide?

Arvaya Healthcare also approved a postal ballot, including remote electronic voting, on November 4, 2026. The postal ballot will be conducted under Sections 108 and 110 of the Companies Act, 2013 and the Companies (Management and Administration) Rules, 2014, to seek members' approval. The filing does not identify the resolutions that members will consider.

The board appointed National Securities Depository Limited as the e-voting service provider and CS Chinmay Mohan Lele as scrutinizer for the postal ballot and e-voting process. Lele is identified in the filing by membership number F-12351 and certificate of practice number 28362. Arvaya Healthcare did not disclose voting dates or a date for declaration of postal-ballot results.

The November 4, 2026 board outcome was signed by Managing Director Kaushal Uttam Shah, with Pune stated as the place of disclosure. Arvaya Healthcare said the outcome would also be available on its website. The filing lists the rights issue and postal ballot as separate agenda items and does not state that postal-ballot approval is a condition of the Rs 210 crore rights issue.

Conclusion

Arvaya Healthcare has moved its proposed fund raising from the July 11, 2026 board-approval stage to an approved draft letter of offer for submission to BSE Limited. The maximum issue size remains up to Rs 210 crore and depends on full subscription, allotment and collection of all application and subsequent call monies.

The next disclosed milestones are BSE Limited's in-principle approval and a separate announcement of the issue price, entitlement ratio, record date, application payment and call-money schedule. Arvaya Healthcare also plans a postal ballot using National Securities Depository Limited's e-voting platform, but the November 4 filing does not specify the resolutions or voting timetable.