34th Notice of AGM of the company
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Himalaya Food International Ltd has announced its 34th AGM to be held on Tuesday, September 30, 2025 at 5:00 PM via Video Conferencing (VC/OAVM). Ordinary business includes adoption of FY2024-25 audited financial statements, re-appointment of Mrs. Sangita Malik (Director retiring by rotation), and appointment of M/s Garg Bros & Associates as new Statutory Auditors in place of Sharma Kumar & Associates. Key special business proposals include: sale of non-core assets at Shubhkhera (HP), Paonta Sahib, and Rajasthan (proceeds to fund operations/expansion); increase in authorized share capital from Rs. 90 crore to Rs. 125 crore; enabling up to Rs. 20 crore loan from promoters with option to convert into equity; fresh equity issue up to Rs. 40 crore via Rights Issue or Follow-on Public Offer; and revision of managerial remuneration for Managing Director Mr. Man Mohan Malik. E-voting window opens September 27, 2025 and closes September 29, 2025.
If approved, shareholders may see dilution risk from the proposed Rs. 40 crore equity raise and possible promoter loan conversion into shares, while the asset sale and capital infusion signal a potential restructuring aimed at funding business expansion. The increase in MD remuneration may be a governance concern for minority shareholders to weigh when voting.