Board approves acquisitions, share swap and preferential issue
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board approved increasing authorized capital from Rs. 5.24 crore to Rs. 50 crore. Final approval for acquiring 19.50% each in Startech Infralogistics (SIPL) for Rs. 42.49 crore and Peepal Mining and Logistics (PMLPL) for Rs. 38.83 crore via share swap, making them associates. Approved preferential allotment of up to 4.06 crore equity shares at Rs. 20 each (including Rs. 10 premium), aggregating about Rs. 81.32 crore. MD and CFO Chirag Kirtikumar Shah resigned due to time constraints, and Atul Ankush Marathe was appointed as Executive Director and CFO. EOGM set for 21 August 2026.
Significant equity dilution expected from share swap and preferential issue; business diversification into logistics and mining segments. Shareholder approval pending at EOGM.