Notice of EGM to be held on Tuesday, 9th December, 2025.
Awaiting price reaction for this filing.
ARSS Infrastructure Projects has called an EGM on December 9, 2025, seeking shareholder approval for six key resolutions following the NCLT Cuttack's approval of its Resolution Plan under the Insolvency and Bankruptcy Code on August 29, 2025, with Ocean Capital Market Limited (linked to Mr. Dipti Ranjan Patnaik) as the successful resolution applicant. The company plans to reclassify and double its authorised share capital from ₹55 crore to ₹110 crore (converting 1.5 crore preference shares into equity) to make room for issuing 30 lakh fresh shares to the new promoter and converting debt into 7.5 crore equity shares for financial creditors and the SRA. Shareholders will also be asked to approve a sharp increase in the borrowing limit to ₹5,000 crore (from the earlier lower cap), along with power to create charges on company assets. Additionally, approvals are sought for the remuneration of the new Executive Director & Chairman (₹50 lakh/month) and Managing Director (₹2 lakh/month for 3 years), and the appointment of a new Independent Director.
This EGM marks the formal post-IBC revival of ARSS Infrastructure with new promoters taking control, but existing shareholders face significant equity dilution as 7.5 crore new shares will be issued mainly to financial creditors and the new promoter, substantially reducing their stake. The ₹5,000 crore borrowing limit signals aggressive expansion or refinancing plans, which could lift the stock on revival hopes but also raises leverage and dilution concerns.