Blue Coast Hotels Limited has informed the Exchange regarding Appointment of M/s Ajay K. & Associates as Secretarial Auditor of the company for FY 2024-25 w.e.f. May 16, 2025.
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Blue Coast Hotels' board, at its meeting on May 16, 2025, approved the conversion of 2,55,200 0.01% Compulsorily Convertible Preference Shares (CCPS) into 25,52,000 equity shares of Rs. 10 each, allotted via preferential private placement to 11 promoter group entities (each receiving 2,32,000 shares). Following this allotment, the company's paid-up equity share capital rose to Rs. 17.19 crore, comprising 1,71,92,457 equity shares. The board also re-appointed M/s Ajay K. & Associates as Secretarial Auditor for FY 2024-25 and M/s Sidharth K Agarwal & Co. as Internal Auditor for FY 2025-26. Both are re-appointments of existing firms, not new appointments or resignations.
The CCPS-to-equity conversion increases the promoter group's equity holding (no dilution for existing public shareholders from new capital raising), slightly expanding the share count by about 1.5%. The auditor re-appointments are routine and carry no governance red flags. Overall, this is a procedural compliance filing with minor capital structure changes favoring promoters.