As per annexure attached
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The 39th AGM of Ind Agiv Commerce Ltd was held on August 11, 2025 via video conferencing and concluded at 1:45 PM. Ordinary business covered adoption of audited standalone and consolidated financial statements for FY ended March 31, 2025, and re-appointment of Mr. Vashdev Bhagwandas Rupani as director liable to retire by rotation. M/s. Mehta & Mehta was appointed as Secretarial Auditor for a five-year term from FY26 to FY30. A key special resolution sought shareholder ratification of a preferential allotment of 30 lakh equity shares at Rs. 29 per share (Rs. 10 face value, Rs. 19 premium), aggregating Rs. 8.7 crore, comprising Rs. 6.65 crore from conversion of unsecured loans and Rs. 2.04 crore in cash, to promoters and non-promoters. Shareholders also approved raising the overall borrowing limit to Rs. 100 crore, authorising the board to sell/mortgage company assets, and permitting inter-corporate loans, investments and guarantees up to Rs. 100 crore.
The preferential allotment will dilute existing shareholders, with a notable portion coming from loan conversion rather than fresh capital, signalling that promoters and insiders are converting debt into equity. The sharp jump in permitted borrowing and investment ceilings (up to Rs. 100 crore each) suggests the company is gearing up for higher leverage and expansion, which may increase both growth potential and financial risk for shareholders.