Intimation for Notice of Annual General Meeting of the Company
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IGC Industries Limited has issued the notice for its 44th Annual General Meeting to be held on Tuesday, September 30, 2025 at 3:00 PM through video conferencing. The meeting will consider adoption of audited financial statements for FY ended March 31, 2025, re-appointment of Ms. Supriya Dilip Gaikwad as Director, and appointment of Mr. Omprakash Pyarelal Sonar as Independent Director for 5 years. Key special business includes a proposed increase in authorised share capital from Rs. 35 crore to Rs. 65 crore, acquisition of 40,40,443 equity shares of CNX Corporation Limited (CCL) at Rs. 50 per share (total Rs. 20.20 crore) through a share swap, and issuance of 1,61,61,772 equity shares on a preferential basis at Rs. 12.50 per share. Other items include re-appointment of Mr. Ziauddin Mohammad as Managing Director, appointment of secretarial auditor for 5 years, and enhanced borrowing and investment limits of Rs. 150 crore each. E-voting facility is being provided through NSDL with the remote e-voting window open from September 27 to September 29, 2025.
Shareholders should review these resolutions carefully as they involve significant dilution risk (nearly 1.62 crore new shares) and a major acquisition financed through a share swap, which could substantially change the company's structure. The increased borrowing and investment limits up to Rs. 150 crore signal potential expansion or capital-raising plans that may affect existing shareholders' equity and risk exposure.