Alteration in the Capital Clause of the Memorandum of Association of the Company.
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The Board of Directors of iStreet Network Ltd approved increasing the company's authorized share capital from Rs. 20 Crores to Rs. 80 Crores, a four-fold increase. The new capital will be divided into 20 crore equity shares of Rs. 4 each, compared to the existing 5 crore equity shares of Rs. 4 each. The face value of shares remains unchanged at Rs. 4, so this is not a stock split or bonus issue. This alteration is subject to shareholder approval. The decision was taken at a Board meeting held on September 1, 2025.
This is a preparatory administrative step that expands the company's room to issue more shares in the future for fundraising, acquisitions, or stock-based rewards. It does not immediately affect existing shareholders, but could be a precursor to a future fundraising round, rights issue, or bonus issue once shareholder approval is obtained.