Adoption of new sets of MOA and AOA of the Company in Compliance with the provision of Companies Act, 2013 subject to the approval of shareholders
Awaiting price reaction for this filing.
The board of Wisec Global Ltd met on September 4, 2025, and approved several key items subject to shareholder approval. It adopted a new Memorandum of Association (MOA) and Articles of Association (AoA) under the Companies Act, 2013, and altered the Main Object Clause of the MOA to expand the company's business into retail and e-commerce of fabrics, clothing, electronics, groceries, spices, cosmetics, furniture, household items, and lifestyle products, along with warehousing, logistics, and consultancy services. The board approved a borrowing limit of Rs. 5 crore and the issuance of secured/unsecured redeemable non-convertible debentures (NCDs) of up to Rs. 2 crore on a private placement basis. It also appointed M/s Shailendra Roy & Associates as Secretarial Auditor for a 5-year term, approved the MDAR, Corporate Governance Report, and Director's Report for FY2024-25, and confirmed the 34th AGM for September 30, 2025 with no dividend declared.
This signals a significant business diversification into retail and e-commerce, alongside a potential debt raise of up to Rs. 7 crore (Rs. 5 crore borrowing + Rs. 2 crore NCDs) to fund expansion. No dividend for FY2024-25 may be a mild negative for income-focused shareholders, while the strategic shift could attract interest from investors looking for growth in the retail/e-commerce space.