Notice of Annual General Meeting of the Company.
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Heera Ispat Limited has called its 33rd AGM on Saturday, 12th July 2025 at 4:00 PM in Ahmedabad. The ordinary business includes adopting the FY 2024-25 audited financial statements, re-appointing director Mr. Chirag Dinesh Chandan (DIN 03637913) who retires by rotation, and ratifying the appointment of statutory auditors M/s. Dhrumil A Shah & Co. for the term 1 April 2023 to 31 March 2028. Under special business, shareholders will vote on raising the company's borrowing limit to Rs. 500 crore (under Section 180(1)(c)) to fund expansion and working capital needs. Another special resolution seeks approval to convert up to Rs. 25 crore of unsecured loans from 10 named lenders (including directors, promoter-related entities, and other parties) into equity shares on a preferential basis, approved by the Board on 30th April 2025.
The two special resolutions are material for shareholders: a sharp jump in the borrowing ceiling to Rs. 500 crore signals significant expansion or debt-funded activity, and the Rs. 25 crore loan-to-equity conversion will dilute existing shareholders while reducing the company's debt load. Investors should watch the AGM outcome closely as both can affect shareholding structure and leverage.