Notice of the Extra -Ordinary General Meeting (EGM) of the Company to be held on Friday, February 27, 2026 at 11:00 AM
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Mantra Capital Ltd (BSE: 511577, SAVFI) has called an EGM on February 27, 2026 at 11:00 AM via video conferencing. Four special businesses are on the agenda: 1. Rescind a previous AGM resolution (September 25, 2025) that had sought to raise authorised capital to Rs. 100 crore — the Board no longer feels this large an increase is needed. 2. Approve a smaller increase in authorised capital from Rs. 38 crore to Rs. 50 crore (addition of 1.2 crore equity shares of Rs. 10 each), with a corresponding change to the MoA. 3. Issue 48.25 lakh equity shares on a preferential basis at Rs. 20 per share (Rs. 10 face value + Rs. 10 premium), raising Rs. 9.65 crore from 7 identified non-promoter allottees (resident and NRI). 4. Issue 45 lakh warrants at Rs. 20 per warrant (Rs. 10 premium) aggregating Rs. 9 crore to the Managing Director, Mrs. Deepa Kishor Tracy, with 50% payable upfront and balance within 18 months on conversion. Relevant date for pricing is January 28, 2026; record/cut-off date for e-voting eligibility is February 20, 2026. Remote e-voting runs from February 24 to 26, 2026.
If approved, existing shareholders will see dilution: up to 48.25 lakh new equity shares plus up to 45 lakh more if warrants (held by the promoter-MD) are converted. Total potential dilution is around Rs. 18.65 crore of new capital. The change in authorised capital cap (from Rs. 38 Cr to Rs. 50 Cr) is modest and signals more measured fundraising plans compared to the earlier Rs. 100 Cr proposal that has been withdrawn. Promoter participation through warrants shows insider confidence but also adds future dilution risk.