Rashi Peripherals Board Approves Q2 Results, Director Appointment, Auditor Change, and ₹900 Cr Fundraise
Rashi Peripherals approved Q2 FY27 results and a ₹900 Crore fundraise via QIP or preferential issue. Mr. Sanjeev Keskar appointed Additional Independent Director. Price Waterhouse appointed Joint Statutory Auditors. Company to sell 26% stake in Rashi Semiconductor Solutions to Restar Corporation, Japan.
The approval of financial results, a substantial equity fundraising plan, a strategic sale of a subsidiary, and the appointment of a new independent director are all material events that can significantly impact the company's financial position, strategic direction, and market valuation.
The announcement details positive developments including the approval of financial results, a significant fundraise, the appointment of an independent director, and a strategic divestment, all of which are generally viewed favorably by the market.
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 personnel changes were also approved. Mr. Sanjeev Keskar was appointed as an Additional Independent Director (Non-Executive) for a tenure effective November 5, 2026, until the Annual General Meeting in 2028, subject to shareholder approval. The Board also approved the appointment of Price Waterhouse Chartered Accountants LLP as Joint Statutory Auditors to fill a casual vacancy.
Furthermore, the Board approved the reconstitution of several 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 a strategic move, the company approved the execution of a Share Purchase Agreement and Shareholders Agreement with Restar Corporation, Japan, for the secondary sale of 26% of its shareholding in Rashi Semiconductor Solutions Private Limited. This transaction includes specific terms regarding board composition and transfer restrictions.
The Board also approved a significant proposal to raise funds up to ₹900 Crores through a Qualified Institutions Placement (QIP), preferential issue, or other permissible modes, subject to shareholder approval. Additionally, the authorized share capital of the company is proposed to be increased from ₹35 Crores to ₹50 Crores.
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