Outcome of the Board Meeting held today, i.e., 22nd January, 2026, for approval of the Postal Ballot Notice and its matters.
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Newtime Infrastructure's board, at its meeting on 22nd January 2026, approved a Postal Ballot Notice to seek shareholder approval for increasing the company's Authorised Share Capital from Rs. 63.20 crore to Rs. 86.76 crore. The increase of Rs. 23.56 crore is being created entirely through a new class of 2,35,60,000 (2.356 crore) 10% Compulsory Convertible Preference Shares (CCPS) of Rs. 10 each. Existing equity shares, NCNCRPS, and preference share structure remain unchanged. The Postal Ballot will be conducted via e-voting (through CDSL) from 24th January to 22nd February 2026, with M/s AASK & Associates LLP appointed as Scrutinizer. The cut-off date for shareholder eligibility is 16th January 2026. The amendment to Clause 5 of the Memorandum of Association forms part of the same resolution.
For existing shareholders, this is a procedural step and does not immediately dilute equity, but the creation of a large CCPS bucket is typically a precursor to a fundraise or preferential allotment, which could lead to future dilution once those CCPS are issued and converted. Watch for a follow-up announcement on the actual issuance terms and identity of the investor.