Board Approved proposal to raise fund. list of Allottee will be finalized in next board meeting and shall be intimated according.
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The board approved raising funds through a preferential issue of 0% convertible equity warrants, with each warrant convertible into one ₹10 equity share at par per SEBI pricing rules. Allottees will be finalized at the next board meeting, and 25% of the consideration is payable upfront with the balance 75% on conversion. Authorized share capital is being increased sharply from ₹1.25 crore to ₹15 crore. The board also proposed changing the company name to 'New Markets Avenue Limited' or 'New Markets Opportunity Limited', added a broad new object clause covering trading, chemicals, timber, gems, and more, and approved a new director while accepting the resignation of the Executive Director. Borrowing and investment limits under Sections 180(1)(c) and 186 were both raised to ₹50 crore. Audited FY25 results showed revenue from operations of ₹20.90 lakhs (up from ₹1.15 lakhs) and a profit after tax of ₹1.64 lakhs versus a loss of ₹12.84 lakhs in FY24, with EPS of ₹0.13.
This is a tiny micro-cap (paid-up capital of just ₹124 lakhs and negative reserves) planning a major transformation via name change, a 12x jump in authorized capital, a broad new business mandate, and potential equity dilution through warrant conversion. Shareholders should expect significant dilution risk and a fundamental shift in the company's business identity, while the financial scale of the actual operations remains very small.