EGM on April 25, 2026: Capital hike, preferential issue, director appointment
Awaiting price reaction for this filing.
EGM scheduled for April 25, 2026 (via VC) to consider: (1) Increasing authorised share capital from Rs 4 Cr to Rs 34 Cr (3.4 Cr equity shares of Rs 10 each). (2) Preferential issue of 3,00,00,000 equity shares at Rs 20/share (Rs 10 premium), aggregating Rs 60 Cr, to 5 allottees, with Ashu Bishnoi (80 lakh shares) and Yagnik Tank (1.55 Cr shares) classified as new promoters post-issue, triggering a change of control and SEBI open offer. (3) Regularising Vinodkumar Singh as Executive Director. (4) Approving borrowing power up to Rs 500 Cr. Cut-off date for e-voting: April 17, 2026.
Major capital dilution likely; potential change of control via preferential allotment to new promoters; possible open offer for public shareholders. Stock may see volatility.