Corporate Updates: Rubfila Divests Subsidiary, Ratnaveer and Jaykay Announce Rights Issues

The Indian business and corporate sector saw a series of significant developments, ranging from strategic divestments and capital raises through rights issues to key executive appointments and contract awards.

Rubfila International Ltd announced that its Board of Directors approved the 100% divestment of its wholly owned subsidiary, Premier Tissues (India) Ltd (PTIL), to Finquest Personal Care Pvt. Ltd. for an aggregate cash consideration of ₹61 crore. The transaction is structured as a related-party transaction associated with Mr. Hardik Patel, Chairman and member of the promoter group, who recused himself from board deliberations. For the financial year 2025-26, PTIL recorded a turnover of ₹95.74 crore and a net worth of ₹51.49 crore. The sale is conducted on an “as is where is” basis, with the entire consideration payable within 30 days of shareholder or statutory approvals.

Capital raising activities were also prominent. Ratnaveer Precision Engineering Ltd announced that its board approved a rights issue to raise up to ₹329.99 crore. The company is offering up to 1,24,99,669 equity shares with a face value of ₹10 each at a price of ₹264 per share, with a rights entitlement ratio of 7 shares for every 40 fully paid-up equity shares held as of the record date. Similarly, Jaykay Enterprises Ltd finalized terms for its rights issue to raise up to ₹154.29 crore, offering up to 2,05,71,642 partly paid-up equity shares at ₹75 per share, with ₹37.50 payable on application.

In leadership changes, Arihant Capital Markets Ltd appointed Mr. Sanjeev Jain as its Chief Financial Officer (CFO) effective August 20, 2026. Mr. Jain brings over 22 years of post-qualification experience in financial reporting, budgeting, treasury, and risk management.

Several companies reported operational updates and new business orders. Oval Projects Engineering Ltd released its business update for the first five months of FY27, detailing new project wins worth ₹27.34 crore alongside completed energy and civil infrastructure projects. Ameenji Rubber Ltd received a purchase order valued at ₹3,67,98,300 from the Office of the Principal Chief Materials Manager, Southern Railway, for reinforced grooved rubber pads. Additionally, Dev Information Technology Ltd secured a work order worth approximately ₹5.15 crore from National Informatics Centre Services Incorporated (NICSI) for the Directorate of Treasuries and Accounts, Government of Rajasthan, Jaipur.

"The recent corporate developments highlight how established companies are actively restructuring their portfolios through strategic divestments like Rubfila's sale of Premier Tissues, while simultaneously raising growth capital via rights issues. For businesses, focusing on core operations, optimizing asset utilization, and securing government or institutional orders remain vital strategies for maintaining financial stability and driving long-term value in a competitive market." — Dr. Shishir Gupta, Founder & CEO, StartupLanes