Akash Infra Projects Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on March 16, 2026
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Akash Infra Projects Limited held an Extraordinary General Meeting on March 16, 2026, via video conferencing. Two special business items were tabled for shareholder approval: (1) increasing the company's authorized share capital from the existing ₹22 crore (2.2 crore equity shares of ₹10 each), and (2) issuing up to 40 lakh convertible warrants on a preferential basis at ₹40 per share, which could raise up to ₹16 crore if all warrants are converted into equity. The issue price of ₹40 represents a 4x premium over the face value of ₹10 per share. Remote e-voting was conducted between March 13-15, 2026, with the scrutinizer's combined voting results to be announced within two working days.
If the resolutions are approved, the preferential warrant issue could dilute existing shareholders by roughly 18% on a fully converted basis. However, the ₹40 issue price (well above the ₹10 face value) indicates the company is attracting investor interest at a meaningful premium, which is generally a positive signal. Shareholders should watch for the voting outcome, expected within two working days, to confirm whether these approvals went through.