Rashi Peripherals Board Approves Q2 Results, Director Appointment, and ₹900 Crore Fundraising
Rashi Peripherals Limited's Board approved Q2 FY27 results and appointed Mr. Sanjeev Keskar as Additional Independent Director. The company will sell 26% of Rashi Semiconductor Solutions to Restar Corporation, Japan. Additionally, a fundraising plan of up to ₹900 Crores via QIP or preferential issue was approved.
The approval of financial results, appointment of key personnel, a significant stake sale in a subsidiary, and a large fundraising exercise are all material events that are expected to have a significant impact on the company's operations, strategy, and financial structure.
The announcement details positive corporate actions including financial results approval, strategic director appointments, a subsidiary stake sale, and a significant fundraising plan, all indicating growth and strategic development 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, both on a standalone and consolidated basis, along with the limited review report from the auditors.
Key appointments and changes were also approved. Mr. Sanjeev Keskar was appointed as an Additional Independent Director (Non-Executive) for a tenure up to the Annual General Meeting in 2028, subject to shareholder approval. The company also appointed Price Waterhouse Chartered Accountants LLP as Joint Statutory Auditors to fill a casual vacancy.
Furthermore, the Board approved the reconstitution of several Board Committees, including the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Corporate Social Responsibility Committee, effective November 6, 2026. Mr. Sanjeev Keskar will serve as a member of the Audit Committee and Chairman of the Stakeholder Relationship Committee.
In strategic moves, the company approved the execution of a Share Purchase Agreement and Shareholder s Agreement with Restar Corporation, Japan, for the secondary sale of a 26% shareholding in its wholly-owned subsidiary, Rashi Semiconductor Solutions Private Limited. The Board also approved a proposal to raise funds up to ₹900 Crores through Qualified Institutions Placement, preferential issue, or other permissible modes, 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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