Rashi Peripherals Approves Q2 Results, Appoints New Director & Auditor, Plans ₹900 Cr Fundraising
Rashi Peripherals approved Q2 results for the period ended September 30, 2026. Mr. Sanjeev Keskar was appointed as Additional Independent Director. Price Waterhouse Chartered Accountants LLP appointed as Joint Statutory Auditors. The company plans to raise up to ₹900 Crores via QIP or preferential issue and approved the sale of 26% stake in Rashi Semiconductor Solutions.
The appointment of a new director, auditor, and especially the planned fundraising of ₹900 Crores and the sale of a subsidiary stake are material events that can significantly impact the company's financial structure and strategic direction.
The announcement includes approval of financial results, strategic appointments, and a significant fundraising plan, all of which are generally positive developments for the company.
Rashi Peripherals Limited announced the outcome of its Board Meeting held on November 5, 2026. The Board approved the Unaudited Financial Results for the quarter and half-year ended September 30, 2026, along with the Limited Review Report.
Key appointments were made, including Mr. Sanjeev Keskar as Additional Independent Director (Non-Executive) with effect from November 5, 2026, until the Annual General Meeting in 2028, subject to shareholder approval. He brings approximately 35 years of corporate experience, with a significant background in the semiconductor industry. The Board also appointed Price Waterhouse Chartered Accountants LLP as Joint Statutory Auditors to fill a casual vacancy.
The company also approved the reconstitution of its Board Committees, including the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Corporate Social Responsibility Committee, effective November 6, 2026.
Furthermore, Rashi Peripherals approved the execution of a Share Purchase Agreement and Shareholders Agreement with Restar Corporation, Japan, for the secondary sale of 26% shareholding in its wholly-owned subsidiary, Rashi Semiconductor Solutions Private Limited. The Board also approved a proposal to increase the authorized share capital of the company and a plan to raise funds up to ₹900 Crores through a Qualified Institutions Placement (QIP) or preferential issue, subject to shareholder approval.
The Board meeting commenced at 4:30 p.m. (IST) and concluded at 6:30 p.m. (IST).
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