Approval of Resolutions at the 32nd AGM held on 20th August, 2025
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Shareholders of Gowra Leasing & Finance approved several resolutions at the 32nd AGM held on 20th August 2025 via video conferencing. Key approvals include the appointment of SPP & Associates as Secretarial Auditors for five years, and the appointment of Shri Subbaraj Gowra (son of Managing Director Shri Gowra Srinivas) as a Director of the company. The authorised share capital was increased from Rs. 6 crore to Rs. 10 crore. The company also approved a preferential issue of up to 24,97,500 equity shares at Rs. 120 per share (including Rs. 110 premium) to 72 allottees, raising up to Rs. 29.97 crore. Additionally, Shri Gowra Srinivas was re-appointed as Managing Director for five years effective June 30, 2026, and the board was authorised to borrow up to Rs. 25 crore from related companies and Rs. 10 crore from directors at interest up to 12% per annum.
The preferential issue at a significant premium (Rs. 120 vs face value Rs. 10) and the capital raise indicate fundraising activity that may dilute existing shareholders by about 30%. The entry of the MD's son to the board continues the promoter family's control over the company, which existing shareholders should factor into their governance assessment.