Enclosed herewith outcome of Board Meeting for declaration of AGM for FY 2024-25 and other matters. Kindly take above cited information on your records.
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Gemstone Investments' Board, meeting on 4th September 2025, approved several key items ahead of its 31st AGM on 30th September 2025. It re-appointed Director Santosh Kumar Dwivedi (retiring by rotation) and Independent Directors Rajesh Babulal Maiyani and Falgun Shah, each for a second 5-year term via special resolution. It also appointed M/s NKM & Associate as Secretarial Auditor for FY 2025-26 to FY 2029-30. More significantly, the Board approved increasing the authorised share capital from Rs. 10 crore to Rs. 48 crore and proposed issuing up to 39.36 crore convertible warrants at Rs. 2.50 each (totalling roughly Rs. 98.4 crore) to 44 non-promoter investors on a preferential basis, with 25% upfront and 75% on conversion within 18 months.
The preferential warrant issue is a major fund-raising move that could raise up to ~Rs. 98 crore but will dilute existing shareholders once converted; along with the sharp jump in authorised capital (from Rs. 10 Cr to Rs. 48 Cr), this signals the company is preparing for significant equity expansion. For retail investors, the key dates to watch are the AGM on 30th September and the e-voting window from 27-29 September, where shareholder approval is required.