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 has called an EGM on February 27, 2026 to seek shareholder approval on four key items. First, the company wants to withdraw (rescind) a previous AGM resolution from September 25, 2025 that had approved raising authorised capital to Rs. 100 crore, after the Board reviewed its capital plans. Second, it now proposes a smaller increase in authorised capital from the existing Rs. 38 crore to Rs. 50 crore, creating room for 1.2 crore additional equity shares of Rs. 10 each. Third, the company plans a preferential issue of 48.25 lakh equity shares at Rs. 20 per share (Rs. 10 face value + Rs. 10 premium), raising Rs. 9.65 crore from 7 identified non-promoter allottees (a mix of residents and NRIs). Fourth, it plans to issue 45 lakh warrants at Rs. 20 each (Rs. 9 crore in total) to Managing Director Mrs. Deepa Kishor Tracy (a promoter), with 50% paid upfront and the balance within 18 months upon conversion into equity shares.
Existing public shareholders should expect immediate dilution from the 48.25 lakh equity shares being issued to non-promoters, with possible further dilution of up to 45 lakh shares if the promoter exercises the warrants within 18 months. The promoter's personal subscription to warrants is a positive signal of commitment. The cut-off date for e-voting eligibility is February 20, 2026, with remote e-voting open from February 24 (9 AM) to February 26 (5 PM).