outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved raising funds via a preferential issue of 0% convertible equity warrants, with each warrant convertible into one ₹10 equity share at par; allottees will be finalised at the next board meeting. Authorized share capital is proposed to increase sharply from ₹1.25 crore to ₹15 crore. The company also plans to change its name to either New Markets Avenue Limited or New Markets Opportunity Limited and broaden its object clause to include trading, manufacturing, and chemical-related businesses. Director changes include the appointment of Ms. Sejal Yerapale as Non-Executive Non-Independent Director and the resignation of Ms. Yukti Sneh Arya as Executive Director. Borrowing limit under Section 180(1)(c) and investment/loan limit under Section 186 are each proposed to be raised to ₹50 crore. FY25 audited results show revenue of ₹20.90 lakhs (vs ₹2.98 lakhs in FY24) and a profit after tax of ₹1.64 lakhs (vs a loss of ₹12.84 lakhs in FY24), with EPS of ₹0.13.
The preferential warrant issue and proposed 12x jump in authorized capital signal a possible major fundraising and business expansion, but the allottees, pricing, and shareholder approvals are still pending. The name change, wider object clause, and higher borrowing limits point to a pivot into new business areas, which existing shareholders should monitor closely for dilution and strategy shifts.