we wish to inform that the Board of Directors of Filmcity Media Limited ('the Company') at their meeting held today i.e., Friday, March 13, 2026, has, inter alia, considered and approved ....
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Filmcity Media's board approved a preferential issue of equity shares worth up to Rs. 1.90 crore to PMC Fincorp Ltd (promoter, Rs. 70 lakh), Puneet Arora (non-promoter, Rs. 95 lakh), and EPS Fin-Vest Pvt Ltd (non-promoter, Rs. 25 lakh). The issue price will be fixed on March 16, 2026, based on the SEBI-determined relevant date. The board also accepted the resignation of CFO Mohit Jain effective March 11, 2026, and appointed Ms. Kirti Vishnu Tiwari as the new CFO alongside her existing role as Executive Director & CEO. Additionally, Mr. Prabhat Modi was appointed as a Non-Executive Non-Independent Director for five years. The company also amended its MOA/AOA to expand into real estate and financial product distribution businesses, subject to shareholder approval via postal ballot.
The small Rs. 1.90 crore preferential issue is modest and may lead to mild equity dilution once priced. The CFO transition and entry into real estate and financial services signal a possible business pivot, which shareholders should watch. Stock price impact likely to be limited given the small issue size, though the strategic direction change could attract longer-term attention.