Please find the enclosed 117th Annual Report of the Company
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Dhenu Buildcon Infra has submitted its 117th Annual Report for FY 2024-25 to BSE, along with the notice for its Annual General Meeting scheduled for Monday, 18th August 2025 at 1:00 PM via video conferencing. The notice includes several key resolutions for shareholder approval: regularisation of Mr. Amit Bajaj as Independent Director, appointment of Mr. Kalpesh Bhanushali as Whole-Time Director and CFO, and appointment of the Secretarial Auditor for a five-year term. Most notably, the company proposes to increase its authorised share capital from Rs 2.25 crore to Rs 1,000 crore (a massive jump), and issue up to 591.55 crore equity shares at Rs 1.42 per share to six non-promoter entities upon conversion of Rs 840 crore of unsecured loans into equity. This preferential allotment, if approved, will result in substantial dilution of existing shareholders.
Existing shareholders face significant potential dilution — the preferential issue of 591+ crore shares at Rs 1.42 to convert Rs 840 crore of loans will drastically expand the share count. The sharp jump in authorised capital (over 440x increase) signals the company expects further equity issuances. The AGM resolutions are critical and shareholders should review them carefully before voting.