Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that an Extraordinary General Meeting ('EGM') of the Members ....
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Himalaya Food International Ltd has called an EGM on May 2nd, 2026 via video conferencing to vote on three key proposals. First, the company wants to increase its Authorised Share Capital from ₹90 Crores to ₹150 Crores to support future fund-raising. Second, the company is appointing M/s. Kumar Rupak & Associates as the new Statutory Auditor to fill a casual vacancy caused by the previous auditor's resignation. Third, shareholders will vote on a special resolution enabling the company to convert promoter/lender loans up to ₹25 Crores into equity shares and raise funds through rights issues, preferential allotments, or private placements. The explanatory statement mentions the funds will be used for One Time Settlement (OTS), repayment/restructuring of existing liabilities, working capital, and business revival and expansion plans.
The proposed capital increase and loan conversion indicate the company is actively addressing financial obligations and seeking to strengthen its balance sheet. If approved, this could reduce debt, lower finance costs, and provide growth capital. However, dilution of equity through loan conversion and future fund raises may impact existing shareholder value.