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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The board of Gemstone Investments, at its meeting on 4 September 2025, approved several key items. It re-appointed Mr. Santosh Kumar Dwivedi (retiring by rotation) and re-appointed Independent Directors Mr. Rajesh Babulal Maiyani and Mr. Falgun Shah for a second 5-year term each, subject to shareholder approval. M/s. NKM & Associate was appointed as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30). The company also approved increasing authorized share capital from Rs. 10 crore to Rs. 48 crore and proposes to issue up to 39.36 crore convertible warrants at Rs. 2.50 each on a preferential basis to 44 non-promoter investors, convertible into equal number of equity shares within 18 months. The 31st AGM is scheduled for 30 September 2025, with e-voting from 27 to 29 September 2025.
The large preferential warrant issue (~39.36 crore shares at Rs. 2.50 each, raising up to ~Rs. 98.4 crore) is significantly dilutive for existing shareholders if fully converted, though it could strengthen the company's capital base. The authorized capital hike from Rs. 10 crore to Rs. 48 crore paves the way for this and future issuances. Retail investors should watch AGM voting outcomes and eventual warrant conversion, as these will affect shareholding and EPS.