Notice of Postal Ballot
Price
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Awaiting price reaction for this filing.
Checkpoint Trends Limited (BSE: 531099), formerly Rubra Medicaments Limited, has issued a Postal Ballot Notice with 9 key resolutions for shareholder approval via e-voting from April 19 to May 19, 2025. The most significant proposal is increasing the authorised share capital nearly 9x from Rs. 8.2 crore to Rs. 75 crore, signaling an intent to raise funds. The company also seeks to completely overhaul its object clause, shifting from pharmaceutical/medicaments to a car rental, travel, and technology platform business. Other items include shifting the registered office from Mumbai to Nashik, amending Articles of Association, appointing two Whole-Time Directors (Pradeep Kumar at Rs. 12 lakh/year and Shubham Chaudhary at Rs. 6 lakh/year for 3 years each), and appointing three Non-Executive Independent Directors. The company is small, with FY24 revenue of only Rs. 1.13 crore and net profit of just Rs. 3 lakh, indicating a likely major business pivot is underway.
This filing reveals a potential dramatic business transformation for the small company, moving from pharma into car rental and tech platforms, paired with a massive capital infusion plan that could lead to significant equity dilution. Existing shareholders should watch closely as a successful fundraise could reshape the company, but the weak current financials and radical change in business focus carry substantial execution risk.