Outcome of Board meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved the Directors' Report for FY2024-25 and appointed Piyush Kothari & Associates as Statutory Auditor and SARK & Associates LLP as Secretarial Auditor, both for a 5-year term starting April 2025. It cleared a preferential issue of 45,60,000 equity shares to non-promoters. It also approved issuing 7,00,000 convertible warrants to promoters Vineet Pandey and Vishal Panchal at Rs. 13.09 per warrant (face value Rs. 10, premium Rs. 3.09), convertible into equal number of equity shares on a private placement basis under SEBI ICDR Regulations. The 16th AGM was fixed for 30th September 2025 with e-voting from 27th to 29th September 2025 and book closure from 24th to 30th September 2025. Draft Valuation Report and Share Subscription Agreement were also approved.
Shareholders should expect equity dilution: 45.6 lakh new shares to non-promoters plus up to 7 lakh more shares if promoters convert their warrants, raising the total share count meaningfully. Promoters putting in their own money via warrants signals confidence, while the Rs. 3.09 premium per share is a modest positive for existing holders.