Enclosed herewith Notice of 31st AGM for the FY 2024-25. Kindly take above cited information on your records.
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Awaiting price reaction for this filing.
Gemstone Investments Ltd has filed the notice for its 31st Annual General Meeting scheduled for Tuesday, September 30, 2025 at 9:00 AM in Goregaon West, Mumbai. The most significant business item is a proposal to issue up to 39.36 crore convertible warrants at Rs. 2.50 each (including a Rs. 1.50 premium) to 44 non-promoter allottees, potentially raising up to Rs. 98.40 crore. To accommodate this, the company also seeks shareholder approval to increase its authorised share capital from Rs. 10 crore to Rs. 48 crore. Other items include adoption of FY25 audited financial statements, reappointment of two independent directors (Mr. Rajesh Maiyani and Mr. Falgun Shah) for a second 5-year term, reappointment of a director retiring by rotation, and appointment of M/s NKM & Associates as the new secretarial auditor for a 5-year period. The record date for eligibility is August 29, 2025, and e-voting runs from September 27 to 29, 2025.
The proposed preferential warrant issue represents nearly 4 times the current authorised capital and, if fully converted, will cause substantial dilution for existing shareholders. The low issue price of Rs. 2.50 per share may put short-term pressure on the stock. However, the fresh capital raise could support business growth if deployed effectively. Shareholders should review the allotment list and dilution impact carefully before voting.