This is to inform that the Meeting of Shareholders of the Company is scheduled to be held on 2nd January, 2026 at 12.00 P.M. through VC/OVAM. kindly take the same on record.Thank you.
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The company has called an Extraordinary General Meeting on January 2, 2026 (via video conferencing) to seek shareholder approval for converting Rs. 16.11 crore of unsecured loans from promoters and promoter group into equity shares. This will involve issuing up to 1,60,36,072 equity shares at Rs. 10.05 each (face value Rs. 10 plus Rs. 0.05 premium), allocated to promoter Jaykishor Chaturvedi (78 lakh shares), his sons Siddharth and Ankur, and promoter group entity Brijlaxmi Infotech Ltd (57.66 lakh shares). Separately, the company also proposes to issue 25 lakh fresh shares to seven non-promoter individuals at the same Rs. 10.05 price, raising an additional Rs. 2.51 crore in cash. As a result, promoter Jaykishor Chaturvedi's stake will jump from 7.80% to 33.22%, and Brijlaxmi Infotech will hold 23.07% post-issue, although the company states there will be no change in overall control. The stated objective is to reduce debt, strengthen net worth, and improve the debt-equity ratio.
Existing public shareholders will face significant dilution as the share count expands sharply through this large preferential issue. While the debt-to-equity swap may improve the company's balance sheet, the substantial increase in promoter shareholding will meaningfully reduce minority shareholders' proportional ownership.