Enclosed herewith Notice of Extra Ordinary General Meeting of Shareholders to be held on 13-04-2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Arco Leasing Limited (BSE: 511038) has called an EGM on April 13, 2026 at 3:00 PM at its registered office in Andheri (E), Mumbai, to seek shareholder approval for six key resolutions. The key items include the appointment of Ms. Jeny Gowadia and Mr. Keyur Shah as Non-Executive Independent Directors for a 5-year term, and the appointment of Mr. Akash Dubey as Director and Managing Director for 5 years (March 9, 2026 to March 8, 2031) with remuneration fixed for 3 years. The company also seeks approval to increase its authorized share capital from Rs. 6 crore to Rs. 15.5 crore by altering the capital clause of the Memorandum of Association. Most significantly, the company proposes a preferential issue of 1,06,13,500 equity shares at Rs. 10 per share (par value), aggregating to Rs. 10.61 crore, to 19 allottees — primarily two proposed promoters (Jitesh Kothari getting 39.75 lakh shares and Atul Ramshankar Jaiswal getting 39.74 lakh shares) along with 17 non-promoter allottees. E-voting will be open from April 9 to April 12, 2026, with the cut-off date set as April 3, 2026.
This EGM signals a substantial restructuring for the company — new leadership, a fresh Managing Director, and a major capital infusion primarily from incoming promoters. The preferential issue at par (Rs. 10) will dilute existing shareholders but the capital raise is modest at about Rs. 10.61 crore. The entry of two new proposed promoters collectively receiving nearly 75% of the preferential issue points to a likely change in promoter control of the company, which is a material event for existing shareholders to evaluate carefully.