Kshitij Polyline Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
KSHITIJPOL · price
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Kshitij Polyline Limited has informed the stock exchange that shareholders, via postal ballot (remote e-voting), have approved two resolutions based on the Scrutinizer's Report dated July 23, 2025. The first (ordinary) resolution approves an increase in the company's authorized share capital along with a consequential amendment to the Memorandum of Association. The second (special) resolution approves a preferential issue of 6,52,44,398 equity shares (approximately 6.52 crore shares) on a private placement basis to 18 identified non-promoter individuals and companies. The total investment from this issue is approximately Rs. 26.10 crore, funded through a mix of cash and conversion of existing unsecured loans into equity. Key allottees include Bhavishya E-Commerce Pvt. Ltd. (~Rs. 5.00 crore), Potential Electrical & Electronics Pvt. Ltd. (~Rs. 5.47 crore via loan conversion), Lalita Devi Naita and Suman Naita (Rs. 1.50 crore each), and Deep Diamond India Limited (~Rs. 1.22 crore via loan conversion).
This preferential issue will dilute existing shareholders' stake since all allottees are from the non-promoter group, and the share count is rising materially. However, it also brings in roughly Rs. 26 crore of fresh capital (and reduces loan liabilities via debt-to-equity conversion), which can strengthen the company's balance sheet for future operations.