Notice of Annual General Meeting for the Financial Year 2024-25
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Awaiting price reaction for this filing.
Artificial Electronics Intelligent Material Limited (formerly Datasoft Application Software India Limited) has called its 33rd AGM on Saturday, July 12, 2025, at 3:00 PM via video conferencing. Shareholders will vote on adopting FY25 financial statements and re-appointing Mr. Vishaal Nandam as director. The key proposals include issuing 1.24 crore equity shares to 124 non-promoter allottees at ₹40 per share (₹30 premium), raising about ₹49.87 crore. Separately, 1.18 crore convertible warrants will be issued to promoters Eswara Rao Nandam, Uma Nandam, and Vishaal Nandam at the same ₹40 price, potentially raising another ₹47.20 crore on conversion. A material related party transaction with promoter-group company Polymatech Electronics Limited for procurement of ₹25 crore is also up for approval. The AGM also seeks to appoint M/s. Jitendra Parmar & Associates as Secretarial Auditors for five years and regularize the appointments of Mr. S. Balasubramanian and Mr. Alan M Wagner as Independent Directors for five-year terms.
If approved, the preferential share and warrant issues could raise up to ~₹97 crore combined, leading to meaningful equity dilution for existing shareholders. The promoter-group warrants signal continued insider backing, but the price of ₹40 is well above face value of ₹10. The ₹25 crore related-party procurement with Polymatech Electronics (promoter group) is a governance-sensitive item worth watching.