Notice of Shareholder Meeting to be held on 29th October, 2025.
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Awaiting price reaction for this filing.
The company has called an Extra-Ordinary General Meeting on October 29, 2025, via video conferencing. Shareholders will vote on three key items: (1) increasing the authorized share capital from Rs. 29.45 crore to Rs. 80 crore (raising maximum equity shares from 2.94 crore to 8 crore at Rs. 10 face value); (2) altering the main object clause of the Memorandum of Association to add new business lines including gold, silver, platinum, diamonds, precious stones, jewellery, online retail, and manpower services — a major shift away from its current capillary tubes business; (3) issuing up to 7.25 crore fully convertible equity warrants at Rs. 13.50 per warrant (Rs. 3.50 premium) on a preferential basis to 17 non-promoter allottees, raising up to Rs. 97.875 crore. The relevant date for pricing the preferential issue is September 29, 2025, and the record date for e-voting is October 22, 2025.
This is a significant corporate event for shareholders. The preferential warrant issue could result in substantial equity dilution once converted (up to 7.25 crore new shares). The proposed change in business objects signals a strategic pivot from capillary tubes into jewellery, precious metals, and e-commerce — investors should watch closely for execution risk and the rationale behind this diversification.