Pursuant to regulation 29 and regulation 30 of SEBI (Listing Obligation and disclosure Requirement) Regulation 2015 we would like to inform you that the Board of Directors in their meeting ....
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Awaiting price reaction for this filing.
The board of Amarnath Securities Ltd met on March 11, 2026, and approved issuing up to 3,16,200 equity shares (face value Rs. 10 each) on a preferential basis to convert unsecured loans of Rs. 47.43 lakh into equity, subject to shareholder and regulatory approvals. The board also cleared a postal ballot notice covering four items: (1) conversion of a loan into equity through preference shares, (2) appointment of M/s H K Shah & Co. as statutory auditors for a five-year term (FY 2025-26 to FY 2029-30), (3) re-designation of Mr. Rajendrabhai Ramanbhai Patel from Additional Director to Whole-time Director (Executive), and (4) re-designation of Mr. Kaustubh Pramod Joshi from Additional Director to Independent Director (Non-Executive). The cut-off date for e-voting eligibility was set as March 20, 2026, and Mr. Shravan Gupta was appointed as scrutinizer. Note: the main letter refers to promoter group allottees, but Annexure A lists all 13 proposed allottees as 'Non-Promoter Group' — an inconsistency investors should watch.
Existing shareholders will see some dilution once the 3,16,200 shares are allotted (Annexure A implies ~9.5% of the post-issue capital goes to these 13 allottees combined), and the loan conversion will reduce liabilities on the books. The auditor and director re-designations are routine governance matters and are unlikely to move the stock significantly on their own.