Mega Nirman's board has approved a proposal for a 1:1 rights issue to existing shareholders, subject to necessary approvals.

The company will also increase its authorized share capital from INR 50 Crore to INR 60 Crore.

Separately, the company allotted 79.67 lakh equity shares from warrant conversions, raising approximately INR 9.75 Crore.

This increases the issued and paid-up capital to INR 18.59 Crore.

About 70.56 lakh warrants remain outstanding for future conversion.

An Annual General Meeting has also been announced.