Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board, at its April 15, 2025 meeting, approved raising the authorized share capital from Rs. 8.2 crore (82 lakh equity shares of Rs. 10) to Rs. 75 crore (7.5 crore equity shares of Rs. 10), subject to shareholder approval via postal ballot. It also approved amending the object clause of the Memorandum of Association to diversify into new businesses, primarily an online platform for car rentals, tour and travel services, and related software/technology solutions — a major pivot from the company's existing operations. Additionally, the board approved shifting the registered office from Mumbai (JVPD Scheme) to Nashik, within Maharashtra, citing operational efficiency and cost savings. A postal ballot has been initiated with e-voting from April 19 to May 19, 2025 (cut-off date April 18, 2025), and results will be declared by May 21, 2025.
Shareholders will need to vote on these proposals, with the cut-off date for voting eligibility set at April 18, 2025. The sharp jump in authorized capital and the move into car rental/travel tech suggests possible fundraising plans ahead, while the business diversification and office shift indicate a strategic reset that could materially change the company's profile.