Outcome of Board Meeting as on 30.08.2025
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The board approved raising share capital of up to Rs. 50 crore, including a preferential issue route for up to Rs. 50 crore, subject to shareholder and statutory approvals. To facilitate this, the Authorized Share Capital will be increased from Rs. 90 crore to Rs. 125 crore, requiring an amendment to the Memorandum of Association. The board also approved the sale of non-core land assets (subject to shareholder approval), appointed M/s Garg Bros & Associates as the new statutory auditor replacing M/s Sharma Kumar & Associates whose tenure ended, and approved a revised remuneration for Managing Director Mr. Manmohan Malik. Additionally, Mrs. Sangita Malik was recommended for re-appointment as a rotational director at the upcoming 34th AGM.
The planned Rs. 50 crore equity raise via preferential issue could lead to dilution for existing shareholders. The sale of non-core land assets may unlock value, while the increase in authorized capital signals the company's intent to pursue further fundraising. Investors should watch for the pricing terms of the preferential issue and details of the land asset sale.