Revised notice of postal ballot
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Awaiting price reaction for this filing.
Checkpoint Trends Ltd (BSE: 531099), formerly Rubra Medicaments Ltd, has filed a revised postal ballot notice correcting a typographical error in the e-voting cut-off date from April 18, 2025 to April 11, 2025. The ballot, open for voting from April 19 to May 19, 2025, seeks shareholder approval for 9 major resolutions. Key items include a massive increase in authorized share capital from Rs. 8.2 crore to Rs. 75 crore (about 9x) to enable fund-raising, and a complete overhaul of the company's object clause to pivot the business into a car rental, travel and e-commerce platform. The company also proposes shifting its registered office from Mumbai to Nashik, and appointing two whole-time directors (Pradeep Kumar and Shubham Chaudhary) along with three new independent directors (Saurabh, Bhawna Saunkhiya, Shruti Gupta) for 3-5 year terms. The company's financials show a small scale, with FY24 revenue of about Rs. 1.13 crore and a modest net profit of Rs. 3.02 lakh, suggesting the fund-raising and diversification are aimed at scaling up significantly.
This postal ballot signals a major corporate transformation — essentially a complete business pivot away from the company's original pharma identity toward a tech-enabled car rental/travel platform, backed by a potential large equity raise. Shareholders should review carefully as approval will enable substantial dilution risk and a fundamentally new business direction.