Outcome of Board meeting held on 24th April 2025
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 through 0% convertible equity warrants on a preferential basis, with each warrant convertible into one equity share of face value ₹10 at par; allottees to be finalized later. Authorized share capital was raised sharply from ₹1.25 crore to ₹15 crore, and the borrowing limit under Section 180(1)(c) and Section 186 was increased to ₹50 crore each, subject to shareholder approval. The company proposed changing its name to 'New Markets Avenue Limited' or 'New Markets Opportunity Limited' and expanded its object clause to include trading and manufacturing of chemicals, textiles, gems, furniture, and other goods. Ms. Sejal Dattaram Yerapale was appointed as a Non-Executive Non-Independent Director, while Ms. Yukti Sneh Arya resigned as Executive Director. For FY25, the company reported revenue from operations of ₹20.90 lakh and a net profit of ₹1.64 lakh, turning around from a loss of ₹12.84 lakh in FY24.
The filing signals a major corporate restructuring: a large jump in authorized capital and borrowing limits (to ₹50 crore each) alongside the warrant-based fundraise suggests plans for significant expansion, acquisitions, or new business activities beyond the current advisory model. Shareholders should watch for the next board meeting where the allottees and warrant pricing details will be finalized, as this could lead to equity dilution.