Postal ballot Notice for increase of authorised share capital of the Company and consequent amendment in MOA.
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Awaiting price reaction for this filing.
Galactico Corporate Services Limited has sent a postal ballot notice to shareholders seeking approval to raise its authorised share capital from Rs. 15 crore (15 crore equity shares of Re. 1 each) to Rs. 20 crore (20 crore equity shares of Re. 1 each), an addition of 5 crore equity shares. The company will also amend Clause V(a) of its Memorandum of Association to reflect the new capital. According to the explanatory statement, the increase is intended to facilitate a potential rights issue of equity shares and to meet future operational needs. Voting will be conducted via remote e-voting through NSDL between August 2 and August 31, 2025, with results announced on September 2, 2025. The cut-off date for eligibility to vote is July 25, 2025.
The change only increases the maximum capital the company is allowed to issue and does not by itself create new shares or dilute existing shareholders. Shareholders should watch for a follow-up announcement on the actual rights issue, which would involve pricing and timeline details that could affect share value.