Satani Bearings Announces Major Capital Expansion And Rights Issue

Satani Bearings Limited, formerly Deccan Bearings, has unveiled a sweeping set of board-approved measures to accelerate growth and improve capital structure. The company is preparing for a rights issue and a share split, alongside governance and structural changes.  

Increase In Authorized Capital  
The board approved raising authorized share capital from INR 200 million shares to INR 350 million shares, each with a face value of INR 10. This expansion provides flexibility for future fundraising and corporate initiatives.  

Rights Issue Proposal  
The company will raise up to INR 50 crore through a rights issue, offering equity shares to existing shareholders. A dedicated Rights Issue Committee will finalize terms, appoint intermediaries, and oversee execution.  

Key Highlights  

• Increase in authorized capital to INR 350 crore  
• Rights issue up to INR 50 crore  
• Share split of 10:1 to boost liquidity  
• New Memorandum and Articles of Association adopted  
• Appointment of Niyati Lad as Company Secretary  
• Incorporation of UAE subsidiary approved  

Sources: Company filing with Bombay Stock Exchange, Satani Bearings Ltd Board Meeting outcome