The Board of Directors discussed and approved the following: 1. Approval for increase in authorized share capital of the company from Rs. 21,00,00,000 (Rupees Twenty-One Crores only) ....
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The board, at its meeting on 4th March 2026, approved raising the authorized share capital from Rs. 21 crore to up to Rs. 35 crore to accommodate a fresh issuance. The company plans to issue 1,50,00,000 equity shares of Rs. 10 face value at Rs. 10 per share on a preferential basis, potentially raising up to Rs. 15 crore. The shares will be allotted to promoter Manoj Jain (14.3 lakh shares) and 29 non-promoter entities, including individuals, HUFs, LLPs and corporate bodies. The board also approved book closure, EGM notice, and appointment of a scrutinizer for the e-voting process tied to the preferential issue.
If approved by shareholders at the upcoming EGM, this will bring in Rs. 15 crore of fresh capital but will dilute existing shareholders' holdings. Shareholders should watch the EGM outcome and the use-of-proceeds disclosure, as preferential allotments at face value to select allottees are typically dilutive for non-participating retail investors.