Please find the Annual Report of Adhata Global Limited for the financial year 2024-2025
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Adhata Global Ltd (formerly M V Cotspin Ltd) has submitted its 32nd Annual Report for FY 2024-25 to BSE, along with the notice for its 32nd AGM scheduled for 14th July 2025 at 11:00 AM in Kolkata. Key business at the AGM includes adopting audited FY25 financials, re-appointing director Vivek Agarwala, and appointing C.K. Chandak & Co. as new statutory auditors to fill the casual vacancy caused by the resignation of P.K. Ajitsaria & Co. (due to expiry of their peer review certificate). Shareholders will also consider appointing Ravikesh Kumar Sinha as Non-Executive Independent Director for a 5-year term till 2030, approving material related party borrowings of up to Rs. 2 crore from promoter M.V. Credit Capital Pvt Ltd, and approving a preferential issue of 20 lakh convertible warrants at Rs. 50 each, aggregating up to Rs. 10 crore. Of these, 15 lakh warrants go to promoter-group entities (M.V. Credit Capital and VNS Projects LLP) and 5 lakh to public category individuals. Proceeds are intended for working capital expansion in MDF and HDMR plywood/veneer segments (up to Rs. 8 crore) and general corporate purposes (up to Rs. 2 crore).
Shareholders are being asked to vote on significant capital-raising and related party transactions, including a Rs. 10 crore preferential warrant issue that will dilute existing non-promoter holdings and increase promoter shareholding influence, while the company also plans to borrow up to Rs. 2 crore from a promoter entity. The warrant conversion could expand the equity base by roughly 42%, which may affect share price and per-share metrics.