Outcome of the Board Meeting under regulation 30 of SEBI (Listing Obligation & Disclosure Requirement) Regulations 2015.
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Gujarat Toolroom Ltd's board, meeting on June 7, 2025, approved adding new business objects to its Memorandum of Association covering agriculture, farming, livestock, aquaculture, food processing, fertilizers, pesticides, seeds, and related activities — a notable shift from its core toolroom business. The board also approved increasing the authorized share capital from ₹210 crore to ₹245 crore (an addition of ₹35 crore), split into equity shares of ₹1 each. These changes are subject to shareholder approval, for which the company will conduct a postal ballot via e-voting. The cut-off date to determine voting eligibility is June 6, 2025, and H. Togadiya and Associates has been appointed as scrutinizer.
Shareholders will vote on a major business diversification into agriculture and a ~16.7% hike in authorized share capital, which could precede future fundraising or equity issuance. The pivot away from the existing toolroom business is a significant strategic change that investors should watch closely.