Announced Mon, 7 Sept, 2026 · 20:06 IST
Board approves auditor re-appointment, acquisition and preferential issue
Price
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₹301.60
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AI summary
Board on 7 Sept 2026 approved re-appointment of M Sahu and Co as Statutory Auditor for 4 years till FY 2029-30. Also cleared 100 percent acquisition of Australian AI company Emagcia Pty Ltd which runs Kyber Marketplace for Rs 37.13 Cr via share swap and cash. Authorized share capital doubles from Rs 35 Cr to Rs 70 Cr. Preferential issue of about 1.26 Cr equity shares and 1.82 Cr convertible warrants at Rs 27 each to promoters and over 150 public investors. AGM set for 30 Sept.
Likely market impact
Large equity dilution from preferential issue at Rs 27. Acquisition expands into AI. Outcome subject to AGM approval on 30 Sept.