Outcome of the Board meeting held on 3rd September 2025 is attached
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The Board of Bazel International Ltd (a Delhi-based NBFC) met on 3rd September 2025 and approved several key items. The 43rd Annual General Meeting is scheduled for 29th September 2025 at 02:00 PM in New Delhi, with book closure from 23rd to 29th September 2025 and 22nd September 2025 fixed as the record date for e-voting eligibility. The Board accepted the resignation of Independent Director Ms. Pooja Bharadwaj (effective 26th August 2025, end of first term due to pre-occupation) and appointed Mr. Chetan Kumar Joshi, a 32-year-old Chartered Accountant, as Independent Director for a 5-year term subject to shareholder approval. The Board also approved a major increase in authorized share capital from ₹11.50 crore to ₹75.00 crore (over 6x) and the conversion of unsecured loans from Chaser Financial Services and Panafic Industrials Ltd into equity via a preferential issue of up to 10,69,190 shares at ₹66.95 per share, aggregating to about ₹7.16 crore. All major decisions including the capital increase, loan conversion, and preferential issue are subject to shareholder approval at the upcoming AGM.
Existing shareholders face potential dilution as ~10.69 lakh new equity shares will be issued to two specific entities at ₹66.95 per share through loan conversion, and the authorized capital is being raised more than six-fold, signaling room for future fundraising. The director changes are routine, but the loan-to-equity swap reduces debt while increasing equity base, which may be viewed as a balance sheet restructuring move.