Submission of 34th Annual report for the FY 2024-25
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
7Seas Entertainment Ltd has submitted its 34th Annual Report for FY 2024-25 to BSE (Scrip Code: 540874), along with the notice for its 34th Annual General Meeting scheduled for September 30, 2025, to be held via video conferencing. The AGM notice includes several key business items: approval of FY25 audited financials, re-appointment of statutory auditors M/s Sathuluri & Co. for five more years (till 2030 AGM), appointment of a new secretarial auditor, and an increase in authorised share capital from Rs. 23 crore to Rs. 25 crore. The company is also proposing a preferential issue of up to 6 lakh equity shares and 13.75 lakh convertible warrants at Rs. 80 each (with Rs. 70 premium) to promoters and identified persons, along with the conversion of Rs. 1.52 crore unsecured loans from promoters into 1.9 lakh equity shares at the same Rs. 80 price. The remuneration of Managing Director Mr. L. Maruti Sanker has been proposed to be doubled from Rs. 2.5 lakh/month to Rs. 5 lakh/month effective October 1, 2025.
Shareholders should note potential dilution from the proposed preferential issue and warrants (up to ~19.75 lakh shares), though the promoter loan conversion of Rs. 1.52 crore into equity reduces liabilities on the balance sheet. The doubling of MD remuneration and the capital-raising proposals will require shareholder approval at the September 30 AGM.