Kanoria Chemicals & Industries Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on April 01, 2026. Further, the company has informed the Exchange regarding voting results.
KANORICHEM · price
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Kanoria Chemicals & Industries held an Extraordinary General Meeting on April 1, 2026, where two special resolutions were passed with 100% votes in favour and virtually no opposition (only 13 votes against each). The first resolution approves an increase in the company's Authorised Share Capital along with a corresponding amendment to the Memorandum of Association. The second resolution approves the issuance and allotment of Non-Convertible, Non-Cumulative, Non-Participating, Redeemable Preference Shares (NCRPS) of Rs 1,000 each to M/s. R.V. Investment and Dealers Limited on a private placement basis. The promoter and promoter group, which hold 3,25,06,880 shares, voted entirely in favour of both resolutions. Notably, the promoter group is declared as interested in the second resolution, indicating it is a related-party transaction. Total shareholders on record date (March 25, 2026) were 17,675, and voting was conducted via NSDL's remote e-voting and e-voting during the EGM.
Shareholders should note that the company is set to raise capital via NCRPS from a promoter-related entity (R.V. Investment and Dealers Limited), which is a related-party transaction, though it was passed with full promoter support. The authorised share capital increase creates headroom for future fundraising, potentially leading to equity dilution later, while the NCRPS is a non-dilutive instrument for now.