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Awaiting price reaction for this filing.
iStreet Network Ltd held its 38th Annual General Meeting on September 26, 2025 via video conferencing, and all 16 resolutions were passed with the required majority. The resolutions covered routine items such as adoption of FY25 financial statements, reappointment of a retiring director (Khyati Nahar), appointment of several independent and non-executive directors, and appointment of Rakesh Rathi as Managing Director and Uttam Dave as Chairman & Whole Time Director. Shareholders also approved key special business including alteration of the Object Clause of the Memorandum of Association, increase in Authorised Share Capital, and a preferential issue of 4,88,33,333 equity shares and 9,60,00,000 warrants on a private placement basis. Voting participation stood at about 33.54% of outstanding shares, with almost all resolutions receiving near-100% support except the Managing Director appointment (97.76% in favour, 2.24% against). The report has been submitted by Practicing Company Secretary Neha Poddar.
The approvals signal a potential capital-raising and business pivot — the preferential issue and warrants could meaningfully dilute existing shareholders, while the change in object clause suggests the company may diversify its business activities. For retail investors, watch for further announcements on pricing, allotments, and use of funds.