Outcome of the 38th Annual General Meeting
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iStreet Network Limited held its 38th Annual General Meeting on September 26, 2025, via video conferencing from 10:30 a.m. to 11:45 a.m. IST, chaired by Whole Time Director Mr. Uttam Dave. Ordinary business included adoption of audited financial statements and re-appointment of Ms. Khyati Nahar as a director retiring by rotation. Several special business items were tabled, including appointments of multiple Independent and Non-Executive Directors, appointment of Mr. Uttam Dave as Chairman & Whole Time Director, and Mr. Rakesh Rathi as Managing Director. The meeting also considered significant corporate actions: alteration of the Object Clause of the MOA, an increase in Authorised Share Capital, issuance of 4,88,33,333 equity shares via preferential issue, issuance of 9,60,00,000 warrants via preferential issue, and approval of related party transactions. Voting was conducted through remote e-voting with Ms. Neha Poddar as scrutinizer; voting results were not disclosed in this filing.
The proposed preferential allotment of ~4.88 crore equity shares and ~9.6 crore warrants signals a major equity dilution and potential capital raise for existing shareholders. Multiple board appointments and an alteration of the company's object clause suggest a restructuring or strategic pivot, which investors should monitor for further clarity on the company's future direction.