Outcome of Board Meetinh held today i.e., February 16, 2026
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 raising the company's authorised share capital from Rs 60 crore to Rs 115 crore (equity shares of Re 1 each), subject to shareholder approval. It cleared conversion of unsecured loans into equity by issuing up to 42,01,25,660 shares at Rs 4 each to two non-promoter allottees (Kurjibhai Premjibhai Rupareliya and Flyontrip Services Private Limited). Separately, it approved a fresh preferential issue of 5,00,00,000 shares at Rs 5 each (Rs 4 premium) to four members of the Khachar family (Bharatbhai, Jilubhai, Karan and Kuldeep). An Extra-Ordinary General Meeting has been fixed for March 18, 2026 to seek shareholder approval. The e-voting window will run from March 15 to March 17, 2026.
This is a heavily dilutive event — the total share count will jump from about 21.24 lakh to roughly 47.22 crore shares (a ~222x increase), which will massively dilute existing shareholders' stakes. Both preferential issues and the loan-to-equity conversion need shareholder approval at the EGM on March 18, 2026, so investors should watch the voting outcome closely.