Appointment of Secretarial Auditor
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Midwest Gold's board approved a preferential issue of up to 10 lakh equity shares at ₹1,500 per share (face value ₹10 + premium ₹1,490), raising up to ₹150 crore from 27 non-promoter allottees. Post-issue, promoter holding will dilute from 63.15% to 57.91%, while public holding rises from 36.85% to 42.09%. The board also appointed CS Munesh Kumar Gaur as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30), subject to shareholder approval. The 35th AGM is scheduled for September 30, 2025 via video conferencing, with the cut-off date for e-voting set as September 23, 2025. Notable allottees include Vikasa India EIF I Fund (largest at 3.47 lakh shares) and India Emerging Giants Fund Limited.
The ₹150 crore preferential issue at a steep premium will dilute existing shareholders by over 5% but brings in institutional and high-net-worth investors, which could be viewed as a vote of confidence. The secretarial auditor appointment is routine governance; the actual fundraise outcome and allottees' identities may draw closer scrutiny.