Kolte - Patil Developers Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2025
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Kolte-Patil Developers has notified exchanges of its 34th AGM scheduled for Monday, 22 September 2025 at 12:30 PM (IST), to be conducted via video conferencing. Key agenda items include adoption of the audited standalone and consolidated financial statements for FY ended 31 March 2025. Three new directors — Mr. Tuhin Parikh, Mr. Asheesh Mohta, and Mr. Mohit Arora — have been appointed (effective 11 August 2025) as Non-Executive, Non-Independent Directors, linked to a Share Purchase Agreement dated 13 March 2025 with BREP Asia III India Holding Co VII Pte. Ltd. (a Blackstone entity). A Special Resolution seeks approval to raise up to Rs. 2,500 Crores through equity, NCDs, GDRs/ADRs, or QIP. Another Special Resolution proposes increasing the borrowing limit from Rs. 1,500 Crores to Rs. 3,000 Crores (over and above paid-up capital and free reserves), along with corresponding authorization to mortgage company assets. M/s Mehta & Mehta is proposed as the new Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), replacing M/s SVD & Associates.
The Rs. 2,500 Crore fundraising approval and doubled borrowing limit (to Rs. 3,000 Crores) signal significant expansion plans and potential dilution risk for existing shareholders, depending on the route chosen. Formalizing Blackstone-nominee directors on the board reflects the private equity investor's growing strategic influence in the company after its stake acquisition earlier in 2025.