Intimation of Notice of Extra Ordinary General Meeting to be held on 4th April 2026 for Increase in authorised share capital and subsequent amendment in MOA.
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Gala Global Products Limited has called an Extraordinary General Meeting (EGM) on 4th April 2026 to seek shareholder approval for increasing its authorised share capital from Rs. 30.30 crore (6.06 crore equity shares of Rs. 5 each) to Rs. 53 crore (10.6 crore equity shares of Rs. 5 each), creating 4.54 crore additional shares. The Memorandum of Association will be amended to reflect the new capital structure. The EGM will be held via video conferencing, with e-voting open from 1st to 3rd April 2026 and a cut-off date of 30th March 2026. Notably, members had earlier approved a similar hike to Rs. 55 crore in March 2023, but the company could not implement it due to financial difficulties, and is now proposing a modified amount of Rs. 53 crore.
This is a preparatory corporate action that gives the company greater headroom to issue new equity shares in the future, which could lead to potential dilution for existing shareholders depending on how the new shares are used. The reduction from the previously approved Rs. 55 crore to Rs. 53 crore and the past financial struggles are worth noting for investors.