Salem Erode Investments Ltd (540181)

Salem Erode Investments received a SAST Reg. 29(2) disclosure regarding the allotment of 75,99,140 equity shares via a Rights Issue to ICL Fincorp Limited, Mr. K G Anilkumar, and Ms. Umadevi Anilkumar. Prior to this issue, promoter holding stood at 75.0%, and the company carries a small market cap of approximately Rs 30 Cr. This equity issuance expands the equity base for the loss-making microcap NBFC, which reported TTM net losses of Rs -5 Cr on TTM revenue of Rs 3 Cr.

• Allotment of 75,99,140 equity shares via Rights Issue
• Acquirers include ICL Fincorp Limited, Mr. K G Anilkumar, and Ms. Umadevi Anilkumar
• Disclosure filed under Regulation 29(2) of SEBI (SAST) Regulations, 2011
• Notification dated October 08, 2026, submitted to BSE

Salem Erode Investments Limited submitted the voting results and scrutinizer's report for its 95th Annual General Meeting held on September 30, 2026. A total of 39 shareholders cast 91,04,244 votes, representing 79.40% of the total 1,14,65,520 outstanding shares. All three agenda items—adoption of FY26 financial statements, re-appointment of retiring director Ms. Umadevi Anilkumar, and re-appointment of Independent Director Mr. A.A. Balan—were approved with 100% votes in favor.

• All 3 resolutions passed unanimously with 100% (91,04,244 votes) in favor and 0% against
• Total voter turnout was 79.40% across 1,14,65,520 outstanding equity shares
• Promoter group polled 100% of their 85,99,140 shares, while non-institutional public polled 5,05,104 shares (18.15%)
• Institutional shareholders holding 84,000 shares did not cast any votes
• A total of 25 shareholders attended the AGM held through Video Conferencing

Salem Erode Investments Ltd has approved the terms of its Rights Issue to raise up to ₹2,293.10 Lakhs (₹22.93 Cr). The company will issue up to 1,14,65,520 equity shares at a price of ₹20 per share (face value ₹1 plus ₹19 premium) on a 1:1 ratio. The fundraise represents approximately 57% of the company's current market cap of ₹40 Cr and over 150% of its net worth (₹15 Cr). The record date to determine eligible shareholders is September 03, 2026, with the issue scheduled to open on September 15, 2026, and close on September 25, 2026.

• Board approved Rights Issue of up to 1,14,65,520 equity shares aggregating up to ₹2,293.10 Lakhs (₹22.93 Cr)
• Issue price fixed at ₹20 per share (₹1 face value + ₹19 premium), offered in a 1:1 ratio
• Record date set for Thursday, September 03, 2026
• Issue opens on September 15, 2026, and closes on September 25, 2026
• On-market renunciation window is open until September 21, 2026

Salem Erode Investments Ltd has scheduled a Board Meeting for August 29, 2026, to determine the terms and conditions of its proposed Rights Issue. The board will finalize the issue price, record date, rights entitlement ratio, and issue schedule, following receipt of BSE's in-principle approval on August 14, 2026. This follows the initial board approval for the rights issue on March 24, 2026. The company currently has a market capitalization of Rs 41 Cr and reported a TTM net loss of Rs 5 Cr.

• Board meeting scheduled on August 29, 2026, to finalize Rights Issue terms and conditions
• Key items include issue price, record date, rights entitlement ratio, and schedule
• BSE granted in-principle approval for the proposed Rights Issue on August 14, 2026
• Initial approval for the rights issue was granted by the board on March 24, 2026

Salem Erode Investments approved its standalone financial results for the quarter ended June 30, 2026, on August 13, 2026. The company is a micro-cap NBFC with a market capitalization of Rs 41 Cr and a net worth of Rs 15 Cr. It remains in a difficult financial position, with a TTM net loss of Rs 5 Cr exceeding its TTM revenue of Rs 4 Cr. Revenue has been declining sequentially, from Rs 1.1 Cr in June 2025 to Rs 0.73 Cr in March 2026. Investors should monitor the full Q1 results for any signs of narrowing losses or operational improvements.

• The board meeting to approve results concluded at 04.25 p.m. IST on August 13, 2026.
• The company reported a TTM Net Loss of Rs 5 Cr against a TTM Revenue of Rs 4 Cr.
• Net Worth stands at Rs 15 Cr, while the Market Capitalization is Rs 41 Cr.
• Promoter holding is stable at 75.0% as of the June 2026 quarter.

Salem Erode Investments approved its unaudited standalone financial results for the quarter ended June 30, 2026, in a board meeting held on August 13, 2026. The company, a micro-cap NBFC with a market capitalization of Rs 41 Cr, continues to operate under financial pressure, having reported a TTM net loss of Rs 5 Cr. The statutory auditor issued a limited review report with no material qualifications. Given the company's small TTM revenue of Rs 4 Cr and negative EPS, these results are critical for assessing its ongoing solvency.

• Board meeting held on August 13, 2026, commenced at 02:00 p.m. and concluded at 04:25 p.m.
• Unaudited standalone financial results for the quarter ended June 30, 2026, were approved.
• Company reported a TTM net loss of Rs 5 Cr against a TTM revenue of only Rs 4 Cr.
• Net worth stands at Rs 15 Cr as per the latest available financial context.
• Promoter holding remains stable at 75.0% as of the June 2026 quarter.

Salem Erode Investments has scheduled a board meeting for August 13, 2026, to approve unaudited standalone results for the quarter ended June 30, 2026. The company is a micro-cap NBFC with a market capitalization of Rs 42 Cr and is currently facing financial stress, reporting a TTM loss of Rs 5 Cr. Revenue has shown a consistent downward trend over the last four quarters, decreasing from Rs 1.1 Cr in June 2025 to Rs 0.73 Cr in March 2026.

• Board meeting scheduled for August 13, 2026, to approve Q1 FY27 results
• Company reported a net loss of Rs 1.4 Cr in the most recent quarter (March 2026)
• TTM revenue stands at Rs 4 Cr, which is approximately 9.5% of its current market cap
• Promoter holding remains stable at 75.0% as of June 2026

Salem Erode Investments has approved the allotment of 36,950 unlisted secured redeemable Non-Convertible Debentures (NCDs) at a face value of ₹1,000 each, totaling ₹3.695 Cr. A significant portion of this issue, amounting to ₹3 Cr (81% of the total), was allotted to its holding company, ICL Fincorp Limited. This fundraise is substantial for the company, representing approximately 92% of its TTM revenue of ₹4 Cr and 24.6% of its net worth. The company remains loss-making, with a net loss of ₹4.85 Cr reported for FY26.

• Allotment of 36,950 Unlisted Secured Redeemable NCDs at ₹1,000 face value each.
• Total capital raised amounts to ₹3,69,50,000 (₹3.695 Cr).
• ₹3,00,00,000 (₹3 Cr) of the allotment was subscribed by the holding company, ICL Fincorp Limited.
• The fundraise magnitude is approximately 92.4% of the company's TTM revenue of ₹4 Cr.
• The allotment was approved by the Debenture and Bond Committee in a meeting on August 01, 2026.

Salem Erode Investments has approved raising Rs 4 crore through the private placement of 40,000 unlisted secured Non-Convertible Debentures (NCDs). This fundraise is highly material, representing 100% of the company's TTM revenue of Rs 4 crore and approximately 26.7% of its net worth. The NCDs offer a 12% coupon for a 36-month tenure or a principal-doubling option over 68 months. The debt is secured against the company's current assets and gold loan receivables.

• Total issue size of Rs 4.00 crore via 40,000 NCDs with a face value of Rs 1,000 each
• Coupon rate of 12.00% per annum offered for the 36-month monthly interest scheme
• Cumulative scheme available for 68 months which doubles the principal amount
• Minimum security cover of 100% provided against current assets and gold loan receivables
• Allotment to be completed within 30 days from the receipt of application money