We wish to inform you that the Board of Directors of the Company, at its meeting held today, has considered and approved the businesses as set out in the enclosed Outcome of the Board Meeting.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Grovy India's board, at its meeting on June 9, 2026, approved several key items. The company plans to issue up to 41,69,433 equity shares at ₹36 each on a preferential basis to promoters and public investors, raising about ₹15 crore. To facilitate this, the authorized share capital will be raised from ₹13.50 crore to ₹25 crore. Promoters including Prakash Chand Jalan, Nishit Jalan, Ankur Jalan and Anita Jalan are among the proposed allottees. The board recommended a final dividend of ₹0.10 per share (1% on face value) for FY26, subject to shareholder approval. The 41st AGM is scheduled for July 8, 2026 via video conferencing, with July 1, 2026 fixed as both the record date for the dividend and the cut-off date for e-voting. The board also approved the annual report and re-appointment of Anita Jalan, who retires by rotation.
The ₹15 crore preferential issue at ₹36 per share (a sizeable premium over the ₹10 face value) brings in fresh capital but will dilute existing shareholders' holdings. Promoters are putting in money themselves, which is a signal of confidence. The dividend is quite small (1% on face value, roughly 0.28% yield at the issue price), so it is unlikely to be a major catalyst for the stock. Watch for shareholder approval at the AGM and how the stock reacts to the dilution news.