Automobile Products of India Limited Finalizes Rights Issue Terms and Schedule

Automobile Products of India Limited has announced the outcome of its board meeting held on April 03, 2026, finalizing comprehensive terms for its rights issue of equity shares worth ₹14,00,000, following the earlier approval granted during the February 09, 2026 board meeting.

Rights Issue Terms and Structure

The board has approved detailed terms for the rights issue, establishing a clear framework for the equity fundraising initiative.

Parameter: Details Issue Size: 14,00,000 equity shares Face Value: ₹1 per share Issue Price: ₹1 per share Total Amount: ₹14,00,000 Rights Ratio: 19:10 (19 new shares for every 10 existing shares) Payment Terms: 100% on application

Key Dates and Timeline

The company has established a comprehensive schedule for the rights issue process, with specific dates for each phase of the offering.

Event: Date Record Date: Thursday, April 09, 2026 Rights Credit Date: Friday, April 10, 2026 Issue Opening: Wednesday, April 15, 2026 Market Renunciation Deadline: Monday, April 20, 2026 Issue Closing: Friday, April 24, 2026 Allotment Date: Monday, April 27, 2026 (Tentative) Listing Date: Friday, May 01, 2026 (Tentative)

Entitlement and Payment Structure

Eligible shareholders as on the record date of April 09, 2026, will receive rights entitlements in the ratio of 19 equity shares for every 10 existing fully paid equity shares held. The rights entitlements will be credited to shareholders' demat accounts under the new RE-ISIN INE0NY120012 prior to the issue opening date.

The management has proposed to call 100% of the issue price at the application stage itself, with shareholders required to pay ₹1 per rights equity share comprising face value of ₹1 and premium of ₹0. As per SEBI Rights Issue Circular dated January 22, 2020, fractional entitlements will be ignored.

Regulatory Compliance and Documentation

The board has adopted and approved the Letter of Offer and other issue-related documents to be filed with BSE Limited and the Securities and Exchange Board of India. These documents will be dispatched to eligible equity shareholders in due course, ensuring compliance with applicable laws and regulations.

The rights issue maintains its structure in accordance with the Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting, which commenced at 05:30 p.m. and concluded at 07:00 p.m., was conducted under the oversight of Company Secretary and Compliance Officer Ankit Patel.

Automobile Products of India Limited has received an adverse order from the Income Tax Department, resulting in a significant financial impact of Rs 14.01 crores. The company disclosed this development under Regulation 30 of SEBI listing regulations on March 31, 2026.

Income Tax Order Details

The Principal Commissioner of Income Tax, Mumbai-6, issued an order dated March 30, 2026, rejecting the company's revision petition filed under Section 264 of the Income Tax Act, 1961. The order upholds the additions to income made by the Jurisdictional Assessing Officer for Assessment Year 2015-16.

Component Amount (Rs Crores) Additions to Income 10.60 Tax Demand (including interest) 10.41 Penalty under Section 271(1)(c) 3.60 Total Financial Impact 14.01

The additions were made under Section 147 read with Section 144 of the Income Tax Act by the Jurisdictional Assessing Officer. The penalty has been imposed under Section 271(1)(c) of the Act.

Company's Response

Automobile Products of India Limited has indicated that it is currently examining the said order and will take appropriate legal steps in due course. The company received the order on March 30, 2026, at approximately 11:38 AM.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information has been simultaneously disseminated on the company's website at the investor relations section.

Financial Impact Assessment

The total financial impact on the company extends to the aforementioned tax demand and penalty amounts. This development pertains to Assessment Year 2015-16, indicating a matter that has been under dispute for several years before reaching this stage of rejection at the revision petition level.

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