What is Narmada proposing to do with the unspent rights-issue proceeds?

The board will consider a 'variation of object,' a formal process to change the planned use of money raised from the September 2024 issuance. The filing does not state the proposed new use.

How significant is the unspent amount to the company?

The ₹7.7 crore is the unspent portion of the raise. For a company with a ₹135 crore market capitalisation, it is a material sum.

Has the company decided on a new plan for the cash?

No. The filing only intimates a board meeting to consider the variation. It does not specify the proposed new use or the rationale for the change.

What was the original purpose of this money?

The filing does not state the original object for the rights-issue proceeds. It only states the board will consider varying it.

Agriculture · Micro cap

Narmada to redirect ₹7.7 cr from last year's rights issue

The board will consider changing the planned use of unspent proceeds from its September 2024 raise. No new plan is specified.

— 2 earlier stories on Narmada Agrobase Ltd. →

NARMADA By Tipsheet Editorial 11 Jun 2026 · 3:28 PM IST Verify on BSE · NSE

Mkt cap₹141 cr

P/E36.49×

ROE7.32%

Debt / eq.0.17

₹7.7 cr Unutilised cash from the September 2024 rights issue.

What's new

Narmada's board will meet to consider varying the object for ₹7.7 crore of unutilised rights-issue proceeds from September 2024.
The filing gives no detail on the original purpose or the proposed new one.
This is a board meeting intimation, not a final decision; shareholder approval may follow.

Why this matters

A variation of objects is a formal step to change how raised money is spent. For a company with a ₹135 crore market cap, ₹7.7 crore is a material sum. The silence on the rationale is the story.

What we're watching

The board's decision on the proposed new use for the funds.
Any explanation of why the original plan was not executed.
Whether shareholder approval is required for the change.

The full read

Narmada Agrobase will rethink how it spends the last ₹7.7 crore from its September 2024 rights issue. The board is meeting to propose a variation of object. The filing is silent on the original plan and the proposed new one. For a nano-cap with a ₹135 crore market value, the sum is material. What changes here is the reason the cash sits idle. A variation of objects is a procedural step. The next fact will be the board's decision.

Questions answered

What is Narmada proposing to do with the unspent rights-issue proceeds?: The board will consider a 'variation of object,' a formal process to change the planned use of money raised from the September 2024 issuance. The filing does not state the proposed new use.
How significant is the unspent amount to the company?: The ₹7.7 crore is the unspent portion of the raise. For a company with a ₹135 crore market capitalisation, it is a material sum.
Has the company decided on a new plan for the cash?: No. The filing only intimates a board meeting to consider the variation. It does not specify the proposed new use or the rationale for the change.
What was the original purpose of this money?: The filing does not state the original object for the rights-issue proceeds. It only states the board will consider varying it.

Mentioned: ₹7.7 cr · September 2024 rights issue · Board meeting intimation

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Narmada Agrobase Ltd.

Agriculture

₹141 cr

P/E 36.45×

Latest quarter · Mar 2026

Sales₹34 cr

Net profit₹1 cr

Op. margin+2.9%

EPS₹0.21

Strength & growth

Debt / equity0.17×

Current ratio6.21×

Story so far

All notes on NARMADA →

11 Jun 2026 · 3:28 PM IST Narmada to redirect ₹7.7 cr from last year's rights issue
today Narmada Agrobase redirects ₹7.7 cr from rights issue to new purpose
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