Orchasp Approves ₹7.11 Crore Preferential Issue Against Promoter-Group Loan

Board approved a preferential allotment of up to 1.5 crore equity shares at Rs 4.74 per share, aggregating Rs 7.11 Cr, to promoter-group entity Wahtulmsylh Limqawlat against loan dues, subject to shareholder approval. It also approved the appointment of Mrs. Sirisha Pattapurathi as a non-executive director and Srinivasu Sunkara and Ravi Prasad Muthyam as independent directors. The preferential issue extends the company’s recurring loan-conversion and equity-financing approach, with no fresh cash proceeds. Sirisha Pattapurathi is related to Managing Director Chandra Sekhar Pattapurathi, while the two independent appointments strengthen board composition subject to AGM approval. The issue adds dilution and settles debt rather than funding operations; the filing does not disclose the underlying loan terms, post-issue promoter ownership, or any operating use of proceeds. AGM is scheduled for September 30, 2026.