Lamosaic India Approves Rs 49.87 Crore Rights Issue Amid Leadership Changes

Board approved rights issue up to 49.9 Cr; price, ratio, record date to be fixed later. Re-designated MD Vinod Visaria as Whole-Time Director; noted exit of two directors. First raise since listing; rights route chosen after debt-vs-equity review. Follows working-capital-heavy model funded by costly debt; promoter MD shift to WTD resets leadership. Price, ratio, record date, use of proceeds and approvals not disclosed; dilution and take-up key in thin float. Exiting director staying as CFO aids continuity; committees reconstituted.