Board to consider fundraise via equity and warrants, borrowing limit hike
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Board meeting on Sept 1, 2026 to consider raising funds through equity shares or convertible warrants via preferential issue or private placement. Plans to raise borrowing limit to Rs 100 crore and borrow Rs 50 crore from directors. Multiple board changes including new Managing Director Mr. Rahul Jain replacing outgoing Mr. Arvind Goenka, plus several director resignations and new appointments. Statutory auditor to be appointed for 5 years. 47th AGM date to be finalised.
Fundraise may dilute existing shareholders. Borrowing limit increase signals expansion. Major board reshuffle and change in company objects could affect governance and direction.