Enclosed herewith announcement under Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015. Kindly take a note of the same.
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Daikaffil Chemicals India's board met on April 23, 2025 and approved several corporate housekeeping and capital-related items. First, the company will adopt a new Memorandum of Association (MOA) and Articles of Association (AOA) aligned with the Companies Act 2013, replacing the older 1956 Act-based versions. Second, the board approved increasing the authorized share capital from Rs. 6.5 crore (65 lakh equity shares of Rs. 10 each) to Rs. 10 crore (1 crore equity shares of Rs. 10 each), creating room for an additional 35 lakh shares. This is a roughly 54% rise in authorized capital. All three items are subject to shareholder approval, for which a postal ballot notice has been issued.
For shareholders, this is largely procedural but signals that the company is preparing the ground for a potential future equity raise, bonus issue, or stock split, since the new authorized headroom (35 lakh extra shares) could be used to issue more equity later. The postal ballot outcome will determine whether this expansion goes through.