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iStreet Network Ltd has called its 38th AGM on September 26, 2025, at 10:30 a.m. via video conferencing. Key items include adoption of FY25 audited financials, reappointment of Ms. Khyati Nahar, appointment of three Independent Directors (Mr. Ravikant Baheti, Mr. Eric Anklesaria, Mr. Satish Goel) and four Non-Executive Non-Independent Directors. Mr. Uttam Ishwarlal Dave is proposed as Chairman & Whole Time Director and Mr. Rakesh Rathi as Managing Director, both for 5-year terms. The company also proposes altering its MOA Object Clause to focus on AI, machine learning, cybersecurity, cloud services, and digital transformation, raising Authorised Share Capital from Rs. 20 crore to Rs. 80 crore, and issuing 4.88 crore equity shares at Rs. 6 (Rs. 29.30 crore) plus 9.60 crore convertible warrants at Rs. 6 (Rs. 57.60 crore) on a preferential basis, totalling ~Rs. 86.90 crore of potential fundraising.
The preferential allotments to over 100 allottees (including promoters Mr. Uttam Dave and Mr. Yash Maheshwari) will meaningfully dilute existing shareholders if fully subscribed, but the capital raise and MOA pivot toward AI/cybersecurity signal a strategic business transformation that could support future growth. Shareholders should review the issue price (Rs. 6 vs Rs. 4 face value) and the 18-month warrant conversion window, as outcomes depend on the September 26 voting results.