We are enclosing herewith a copy of Notice of Extra Ordinary General Meeting of the members of the Company scheduled to be held on Wednesday, December 24, 2025 at 3.00 p.m. through Video ....
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Ironwood Education has called an EGM on December 24, 2025 to seek shareholder approval on six key items. First, to raise authorized share capital from Rs. 16 crore to Rs. 18 crore (creating 20 lakh additional equity shares of Rs. 10 each). Second, to issue up to 17,11,670 equity shares on a preferential basis at Rs. 45 per share (a premium of Rs. 35) to 12 non-promoter allottees, raising approximately Rs. 7.70 crore. Major allottees include Capri Global Holdings (6 lakh shares), Darius Pandole (4.44 lakh shares), and Farokh Pandole (2.22 lakh shares). Third, to redesignate Mr. Nitish Nagori from Managing Director to Executive Director without remuneration. Fourth and fifth, to appoint Mr. Balaji Raghavan as Director and then as Managing Director for a 5-year term. Sixth, to approve a material related party transaction with AVA Lifespaces LLP for an SRA (slum rehabilitation) real estate project in Kandivali (East), involving a Rs. 5.50 crore refundable security deposit and a 70:30 profit-sharing arrangement.
Shareholders will vote on a meaningful Rs. 7.70 crore preferential equity dilution at Rs. 45/share and entry of new non-promoter investors, alongside a senior leadership transition and a new real estate joint venture that diversifies the company beyond education. The preferential issue and capital expansion will dilute existing shareholding, while the SRA project could provide a new revenue stream if executed well.