Board Approves Postal Ballot to Change Rights Issue Use of Funds

Board & Shareholder Meetings View source PDF

NARMADA · price

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AI summary

Narmada Agrobase's board on 29 June 2026 approved a postal ballot through e-voting to seek shareholder approval for changing the object of its Rights Issue originally disclosed in the Letter of Offer dated 17 September 2024. The company wants to modify how the net proceeds from the equity share issue will be used. Mr Punit Santoshkumar Lath was appointed as scrutinizer for the e-voting process. The board meeting ran from 11:00 AM to 11:30 AM in Ahmedabad.

Likely market impact

Shareholders will vote on changing how funds from the 2024 Rights Issue are used. Outcome could affect deployment of raised capital.