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, at its meeting on 4 September 2025, approved adopting a new set of Memorandum and Articles of Association in line with the Companies Act, 2013, subject to shareholder approval. More importantly, the company has altered its Main Object Clause (overriding an earlier change from 31 July 2025) to expand into retail and e-commerce of fabrics, clothing, electronics, groceries, spices, cosmetics, furniture, household items, and lifestyle products, along with warehousing, logistics, packaging, and consultancy services. The board also cleared a borrowing limit of up to Rs. 5 crore and the issuance of secured/unsecured, listed/unlisted redeemable non-convertible debentures (NCDs) of up to Rs. 2 crore on a private placement basis. M/s Shailendra Roy & Associates was appointed as Secretarial Auditor for 5 years, and the 34th Annual General Meeting was scheduled for 30 September 2025 at 11:00 a.m. No dividend has been declared, and the book closure period is 27–30 September 2025.
This is a significant business pivot — the company is shifting from its current focus into retail and e-commerce across multiple product categories, which could change its growth trajectory but also raises execution risk. The Rs. 5 crore borrowing cap and Rs. 2 crore NCD plan indicate the company will likely raise debt to fund this new direction. All key decisions still need shareholder approval at the AGM on 30 September 2025.