Tirupati Innovar 2026 rights issue, split, bonus timeline

What the company has announced

Tirupati Innovar Limited has announced a series of corporate actions spanning fundraising, capital restructuring, and board-level changes. The company has communicated a rights issue opening on May 7, 2026, and also started a postal ballot process in June 2026 for a proposed stock split and bonus issue. Separately, shareholder voting results from September 2025 show approvals for a Qualified Institutions Placement (QIP) and a name change from Tirupati Tyres Limited to Tirupati Innovar Limited.

These actions are being presented as steps to raise capital, increase share count, and potentially improve liquidity through a lower face value and a higher number of outstanding shares. The announcements also include changes in management, including a new director appointment and resignations in key roles.

Rights issue: size, price, and dates

The company has stated that it approved a rights issue of ₹4,644.27 lakh, which equals ₹46.44 crore, with the issue opening on May 7, 2026. Another disclosure in the provided information describes a rights issue of ₹464.43 crore for 4,64,42,650 shares at ₹10 each, with a record date of April 30, 2026. The same disclosure set the rights issue price at ₹10 per share.

Based on the numbers stated, the share count of 4,64,42,650 shares at ₹10 each corresponds to ₹46.44 crore, while the headline amount cited as ₹464.43 crore is also present in the text. The information provided does not reconcile this difference, so investors typically rely on the final exchange filing and offer document for the definitive figure.

Board and management updates mentioned

Alongside the fundraising plan, the text notes that a new director has been appointed. It also states that the company announced the resignations of its Company Secretary and an Independent Director. These changes were referenced in the context of the company’s broader set of disclosures, including announcements under Regulation 30 (LODR) relating to change in management.

The disclosures list key dates around late June 2026, including a trading window closure notice dated June 24, 2026, and postal ballot related filings dated June 22, 2026. A management change item is referenced on June 19, 2026.

Stock split and bonus issue: what is being proposed

Tirupati Innovar’s board approved a capital restructuring plan that includes:

• A 1:10 stock split, where each equity share of face value ₹10 is subdivided into 10 equity shares of face value ₹1.
• A bonus issue in the ratio of 5:8, meaning 5 new shares for every 8 shares held, computed on the number of shares outstanding after the proposed split.

The company has said these actions are subject to shareholder approval. The stated rationale for the split is to improve liquidity and make the shares more affordable for small investors.

Postal ballot process and e-voting schedule

The company initiated a postal ballot e-voting process to seek shareholder approval for three resolutions: the stock split, an amendment to the Memorandum of Association (Capital Clause) consequential to the split, and the bonus issue. The key dates and process details provided include:

• Cut-off date (record date) for voting eligibility: June 19, 2026
• Postal ballot notice dispatch completed: June 22, 2026
• E-voting window: June 23, 2026 (9:00 AM) to July 22, 2026 (5:00 PM)
• Voting platform: CDSL remote e-voting only
• Scrutinizer: Vishakha Agrawal and Associates, Practicing Company Secretaries
• Results: within 2 working days from conclusion of e-voting

The text also states that physical postal ballot forms will not be accepted, and voting is restricted to remote e-voting.

Bonus issue funding and capital structure numbers

For the bonus issue, the disclosure states that the company plans to capitalise ₹15.2771875 crore from the Securities Premium Account. This capitalisation is linked to the issuance of 15,27,71,875 new equity shares of ₹1 each.

The same information states:

• Pre-bonus paid-up share capital: ₹24.44 crore
• Post-bonus paid-up share capital: ₹39.7206875 crore (39,72,06,875 equity shares of ₹1 each)
• Securities premium as of March 31, 2026: ₹31.50 crore

The bonus shares are expected to rank pari-passu with existing equity shares and be eligible for dividends declared after allotment, as per the provided text.

Earlier shareholder approvals: QIP and name change (September 2025)

The provided information also includes earlier postal ballot results concluding on September 17, 2025. Shareholders approved:

• Raising up to ₹99 crore through a Qualified Institutions Placement (QIP), under SEBI ICDR Regulations
• Changing the company’s name from Tirupati Tyres Limited to Tirupati Innovar Limited, after prior regulatory approval

The stated purpose of that postal ballot included seeking shareholder approval through a special resolution for the name change.

Stock price references and reported performance metrics

The text cites Tirupati Innovar’s share price at ₹9.79 as of June 25, 2026, and ₹9.8 as of June 28, 2026. It also notes a 2% lower circuit close at ₹10.18 on a Tuesday (the date is not specified in the provided text). The 52-week high is stated as ₹14.04.

Performance figures in the provided information include:

• Up 86% over three months
• Down 54% over two years
• Down 75% for investors holding for three years (as stated)
• Up 54% over five years (as stated)

Separately, the text mentions March quarter revenue of ₹73.20 crore.

Key facts at a glance

Why these actions matter for shareholders

A rights issue and a QIP are capital-raising tools that can change the company’s capital structure and share count. The stock split and bonus issue, if approved, would increase the number of shares outstanding and reduce the face value per share, which companies often present as steps to improve market liquidity.

At the same time, shareholders typically track the detailed terms and the final record dates for corporate actions. In the provided text, the record date for the split and bonus issue is not announced, while the cut-off date for voting eligibility is June 19, 2026. The company has also indicated an anticipated timeline of completing the restructuring within two months of board approval, subject to shareholder approval.

What to watch next

The immediate next milestone is the postal ballot outcome following the end of e-voting on July 22, 2026, with results expected within two working days. For the rights issue, the key published dates include the record date of April 30, 2026, and opening date of May 7, 2026.

Investors typically look for final exchange communications on record dates, ex-dates, allotment timelines, and any updates that clarify the stated rights issue amount where multiple figures appear in the information provided.