Mumbai: Continental Controls Ltd announced on Wednesday that its board approved raising funds up to ₹50 crore through a rights issue of equity shares. The issue will be offered to eligible equity shareholders, subject to regulatory approvals.
Software Rights Acquired
The company will acquire commercial rights to two software applications, “Ready Shopping” and “Ready Pharmacy,” from Onelife Capital Advisors Limited (OCAL). This acquisition includes associated operational concepts and proprietary business know-how for a fixed license fee of ₹53,99,603.
Strategic Collaboration
Continental Controls will also pay OCAL a strategic collaboration participation fee or royalty of 0.50% of gross revenue, payable quarterly. This is in consideration for ongoing strategic guidance, business development support, and Touch Ecosystem participation.
Board and Management Changes
The board noted the resignation of Jyoti Darade as company secretary and compliance officer, and Khusbu Agrawal as an independent director. Anushree Tekriwal was appointed as the new company secretary and key managerial personnel effective 15 July 2026.
New Independent Directors
Dr Ranu Jain and Santosh Bhattacharjee were appointed as non-executive independent additional directors, effective 15 July 2026.
Internal Auditor Appointed
Aadhar Agarwal & Co., Chartered Accountants, was appointed as the internal auditor for the financial year 2026-27.
Office Space Lease
The company also approved taking approximately 1,500 sq ft of office space on leave and license from Dealmoney Commodities Private Limited. This involves a refundable security deposit of ₹1.50 crore and a monthly rental of ₹5,000.
Rights Issue Committee
The board constituted a Rights Issue Committee to determine the detailed terms of the issue, including issue price, rights entitlement ratio, and record date. The committee will oversee other matters related to the rights issue.
Issue Support Appointments
Purva Sharegistry (India) Private Limited was appointed as the Registrar to the Issue, and ICICI Bank Limited as the Banker to the Issue. Acuite Ratings & Research Limited will serve as the Monitoring Agency for the proposed rights issue.
