Intimation regarding Shareholders approval granted at 01st EOGM Dated 16.04.2026 for Preferential Issue of Shares (Consideration other than Cash).
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GTV Engineering's shareholders at its 1st Extra-Ordinary General Meeting held on 16 April 2026 approved a preferential issue of 39,42,047 equity shares at Rs. 59.65 per share (face value Rs. 2 plus premium Rs. 57.65), aggregating significant capital. The issue is for consideration other than cash, indicating the company is acquiring assets, settling liabilities, or transferring business in exchange for shares rather than receiving cash. The Board had already approved this at its meeting on 23 March 2026. The transaction falls under SEBI ICDR 2018 and LODR 2015 regulations.
The non-cash nature suggests the company is using equity to fund acquisitions or settle obligations, which may dilute existing shareholders but could unlock growth if the underlying assets are valuable.