OUTCOME OF 32nd AGM HELD ON 29th SEPTEMBER 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Hilltone Software and Gases Ltd held its 32nd AGM on September 29, 2025 via Zoom, attended by 19 members. Auditors' reports were noted as unqualified. Shareholders considered adoption of FY25 financial statements, reappointment of Mrs. Sapnaben Hitalbhai Shah as director, and appointment of M/s Ashvin K. Yagnik & Co as statutory auditor for five years. Key resolutions included appointing Ms. Dipika Modi as Non-Executive Independent Director, M/s Hussain Bootwala & Associates as Secretarial Auditor (FY 2025-26 to FY 2029-30), increasing authorised share capital with corresponding MOA changes, and adopting new Articles of Association. Major capital-raising proposals: preferential allotment of 30,82,000 equity shares at Rs. 44 each (face value Rs. 10) for an aggregate Rs. 13.56 crore, raising borrowing powers under Section 180(1)(c) up to Rs. 200 crore, and increasing FPI and NRI/OCI investment limits. Two independent directors (Mr. Aditya Patel and Mr. Paresh Parekh) were absent. Scrutiniser's report to be filed within 48 hours.
Shareholders should note the preferential allotment at Rs. 44 per share (vs Rs. 10 face value) will lead to equity dilution but brings in ~Rs. 13.56 crore of fresh capital. The substantial increase in borrowing capacity to Rs. 200 crore signals potential debt-led expansion, while higher FPI/NRI limits open the door to more foreign investor participation.