Notice is hereby given that 2nd Extra-ordinary General Meeting of the Company for the financial year 2025-26 will be held on Friday, August 29, 2025 at 04:00 p.m. at GAT Number 353/2 Mauje ....
ELITECON · price
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Elitecon International has called its 2nd EGM for FY2025-26 on August 29, 2025, at 4:00 p.m. in Nashik, with e-voting open from August 26 to August 28, 2025 and a cut-off date of August 22, 2025. Six special resolutions will be tabled: (1) raising up to Rs. 300 crore via a Qualified Institutions Placement (QIP) of equity shares; (2) approving loans, investments and guarantees up to Rs. 1,000 crore under Section 186; (3) amending the Objects Clause of the MOA to add edible oils/fats (mustard, sunflower, soybean, palm, etc.) and agri-based food products (rice, wheat, cereals, dairy, poultry) businesses; (4) and (5) appointing Mr. Venkata Ramesh Penumaka and Mr. Susanta Kumar Panda as Independent Directors for 5-year terms; and (6) shifting the registered office from Delhi (NCT) to Maharashtra. The Register of Members will be closed from August 23 to August 29, 2025.
The resolutions signal a major pivot — a possible equity dilution of up to Rs. 300 crore via QIP and a strategic expansion into the edible oils and food processing sector, supported by relocating the registered office closer to the Nashik factory. Shareholders should weigh potential dilution and business transformation risks against the new growth direction.