Amendment to MOA subject to members approval
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Awaiting price reaction for this filing.
The board of New Markets Advisory Limited approved a fund-raising plan via preferential issue of 0% convertible equity warrants at par (face value ₹10), with non-promoters paying 25% upfront and the balance on conversion; the list of allottees will be finalised later. It also approved a massive increase in authorized share capital from ₹1.25 crore to ₹15 crore and a proposal to change the company name to either New Markets Avenue Limited or New Markets Opportunity Limited. The object clause of the MOA was widened substantially to include trading, manufacturing, chemicals, textiles, jewellery, food products and many other lines of business. Borrowing limits under Section 180(1)(c) and investment limits under Section 186 were each raised to ₹50 crore. Additionally, Ms. Sejal Yerapale was appointed as a Non-Executive Non-Independent Director while Ms. Yukti Sneh Arya resigned as Executive Director. FY25 audited results show revenue from operations rising sharply to ₹20.90 lakhs (from ₹1.15 lakhs) and the company swinging to a small profit of ₹1.64 lakhs (from a loss of ₹12.84 lakhs), with EPS of ₹0.13.
The proposed preferential warrants at par combined with a 12x jump in authorized capital signals potential equity dilution and a major business pivot beyond its current advisory profile, which existing shareholders should monitor closely. The sharp jump in revenue and return to profit, though on a very small base, along with expanded borrowing powers up to ₹50 crore, could increase stock volatility around the shareholder meeting.