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The board approved several major corporate actions, all subject to shareholder approval via postal ballot. The company will rename itself from Checkpoint Trends Limited to Centuple Global Limited, and increase its authorized share capital from Rs 300 Crore to Rs 750 Crore (2.5x). Mr. Gunjan Gangwal, a CA and CS with over 15 years of finance experience, has been appointed as an Additional Non-Executive Independent Director for five years and will join the Audit, Nomination & Remuneration, and Stakeholders Relationship Committees. The board also approved raising the borrowing limit to Rs 200 Crore, allowing creation of mortgage or charge on assets up to the same amount, and increasing investment limits for NRIs, overseas citizens, FIIs and FPIs. A scrutinizer was appointed to oversee the postal ballot e-voting process.
The combination of a name change, a 2.5x jump in authorized share capital, and a Rs 200 Cr borrowing limit strongly hints at a planned fundraising or strategic pivot ahead. Shareholders will get a postal ballot to vote on these resolutions, and outcomes could reshape the company's equity base and debt capacity significantly.