Notice of the Extra-Ordinary General meeting (EGM) of the Company with explanatory statement to be held on March 23, 2026
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Esaar (India) Ltd has called an EGM on Monday, March 23, 2026 at 3:00 PM via video conferencing. Three special businesses will be tabled: (1) increasing the authorised share capital from Rs. 61.50 crore to Rs. 81.50 crore (adding Rs. 20 crore of new equity shares of Rs. 10 each) to create headroom for future fund-raising via rights issue, QIP, preferential issue, or private placement; (2) regularising the appointment of Mr. Shivanshu Pandey (DIN: 06916787) as Executive Director, originally appointed as Additional Director on December 23, 2025; and (3) re-appointing Mr. Vaibhav Shastri (DIN: 02136309) as Independent Director for a second 5-year term from April 29, 2026 to April 28, 2031. E-voting will run from March 20-22, 2026, with a cut-off date of March 16, 2026, and the register of members will be closed from March 17-19, 2026.
The authorised capital hike signals the company is preparing to raise fresh equity funds soon, which could lead to dilution for existing shareholders. The director appointments are routine governance matters and unlikely to move the stock on their own.