This is to inform you that pursuant to Reg 30 of the Listing Regulations the Board at its meeting i.e. Tuesday 16/12/2025 considered & approved the following: 1. Proposal to change name ....
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The board of Deep Diamond India Limited (BSE scrip code 539559), at its meeting on December 16, 2025, approved a proposal to change the company's name to either 'Deep Health India Limited' or 'Deep Health AI India Limited', pending approvals from the Registrar of Companies, MCA, and shareholders. The board also approved a variation in the objects and utilisation of proceeds from its Rights Issue (allotted on October 6, 2025), including ratification of deviations already undertaken. A postal ballot notice was approved to seek shareholder consent for both the name change and the change in use of rights issue funds. The name change signals a likely pivot from the diamond business to the health and AI sector, subject to regulatory and shareholder approvals.
Existing shareholders should note two key things: the company is likely shifting its core identity away from diamonds toward healthcare/AI, and management is seeking to formally re-purpose money already raised through the October 2025 Rights Issue — effectively telling shareholders the funds were used (or will be used) for a different purpose than originally stated. Both items require shareholder approval via postal ballot, and the share price may react to confirmation or rejection of the name change and revised fund usage.