Intimation of outcome of Board Meeting for approval of increase in the Authorised Share Capital and Subsequent alteration to the Memorandum of Association, subject to approval of Members ....
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The Board of Directors of Gala Global Products Ltd, at its meeting on March 7, 2026, approved an increase in the company's Authorized Share Capital from Rs. 30.30 crore to Rs. 53 crore. This will be done by creating an additional 4.54 crore equity shares of Rs. 5 each, ranking equally with existing shares. The company will also alter the Memorandum of Association (Clause V) to reflect this new capital structure. Both changes are subject to approval from shareholders.
This move expands the company's room to issue new shares in the future, potentially for fundraising, expansion, or rewarding shareholders through a bonus or split. However, no immediate dilution or capital raise is announced yet, and shareholder approval is still pending.