Board overhaul: new MD, CFO appointed; Rs 40 Cr preferential issue approved
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Board overhauled management on Sep 1, 2026. MD Arvind Goenka and CFO Pulkit Goenka resigned. Rahul Jain appointed MD/Chairman; wife Sumita Jain as CFO; cousins Rajneel and Siddharth Jain as Executive Directors. Three new independent directors appointed. Approved 4 crore warrants at Rs 10 each (Rs 40 crore preferential issue), authorized capital hike from Rs 5 cr to Rs 45 cr, borrowing limit up to Rs 100 cr, and added spices business to main objects. New statutory auditor for 5 years.
Major change of control - old promoter group exits, Jain family takes over management and raises Rs 40 Cr. Significant dilution possible on warrant conversion.