Addendum to the Notice of 31st Annual General Meeting of Golden Carpets Ltd for the Financial Year 2024-25.
Awaiting price reaction for this filing.
Golden Carpets Ltd has issued an addendum to its 31st AGM notice (scheduled for 29th September 2025) adding two new special business items. Item 6 seeks shareholder approval to raise the company's overall borrowing limit to Rs. 15 Crores under Section 180(1)(c) of the Companies Act, 2013. Item 7 proposes raising an interest-free unsecured loan of up to Rs. 5 Crores from the company's directors, which can optionally be converted into fully paid-up equity shares. The funds will be used for working capital needs, general corporate purposes, and managing financial obligations. Both items require approval as special resolutions from shareholders.
If approved, the company gets access to significantly more debt (up to Rs. 15 Crores) and a Rs. 5 Crore interest-free loan from directors that may dilute existing shareholders if converted to equity. The director loan with conversion option is a mixed signal — interest-free funding is positive, but potential equity dilution and increased leverage could weigh on the stock.