Revised: Authorized Capital Hike to Rs 95 Cr from Rs 5 Cr
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Company revised its earlier board meeting outcome to correct a typo on the proposed Authorized Share Capital increase. Corrected figure: from existing Rs. 5 crore (50 lakh equity shares of Rs. 10 each) to Rs. 95 crore (9.5 crore equity shares of Rs. 10 each), subject to shareholder approval at the AGM. A jump this large in authorized capital typically precedes a fundraising action such as a rights issue or preferential allotment, though no specific issuance details were disclosed.
Large authorized capital expansion signals a likely future fundraising move such as rights issue or preferential allotment, pending shareholder approval.