Zodiac JRD-MKJ Limited's Rights Issue Committee has approved the Draft Letter of Offer (DLOF), moving forward with plans to raise capital.

The company intends to issue fully paid-up equity shares to eligible existing shareholders through a Rights Issue, aiming to raise up to Rs. 40 Crore.

This strategic step, pending in-principle approval from BSE Limited, will provide the company with significant capital for its operations and growth, offering current shareholders an opportunity to participate in the funding.

The specific issue price and ratio will be announced later.