Extra-ordinary General Meeting to be held on 30th April, 2026
Awaiting price reaction for this filing.
Satani Bearings Limited (formerly Deccan Bearings Limited) has called an EGM on April 30, 2026 via video conferencing with remote e-voting from April 27-29, 2026 (cut-off date April 23, 2026). The meeting addresses 8 agenda items including: (1) Increase in authorized capital from Rs. 20 Crores to Rs. 35 Crores via ordinary resolution; (2) Raising borrowing powers up to INR 500 Crores under Section 180(1)(c) as special resolution; (3) Creation of charges/mortgages up to INR 500 Crores under Section 180(1)(a); (4) Investment/loan/guarantee limits up to INR 500 Crores under Section 186; (5) Alteration of Object Clause to include agro/agri/food products including spices, oilseeds, grains, vegetables, herbs, and pickles as a new business segment; (6) Stock split from face value Rs. 10 to Rs. 1 per share (10:1 ratio) as ordinary resolution; and (7-8) Adoption of new Memorandum and Articles of Association compliant with Companies Act, 2013.
The stock split from Rs. 10 to Rs. 1 face value will increase share liquidity and make the stock more accessible to retail investors. Entry into agro/food products represents a significant diversification from the bearings business. The INR 500 Crores borrowing powers provide flexibility for future growth but may increase leverage. Shareholders should vote considering the dilution implications of the authorized capital increase and new business direction.