Tirupati Innovar Limited's board has approved raising funds up to Rs. 47 Crore through a Rights Issue of equity shares.

This issuance will offer existing eligible shareholders the opportunity to subscribe to new shares.

The board also approved the draft offer letter and constituted a Rights Issue Committee, comprising Mr. Kiran Parsotambhai Makhecha, Mr. Akashbhai Patel, and Mr. Ashishbhai J Bechara, to oversee the process and appoint necessary intermediaries.

This move is significant for capital infusion and future company growth.