Notice of the 33rd Annual General Meeting of the Company
Awaiting price reaction for this filing.
Tiaan Consumer Limited has called its 33rd AGM on August 20, 2025 at 1:00 PM via video conferencing. Key items include adoption of FY25 audited financials, appointment of new statutory auditor V R S K & Associates for 5 years, and conversion of Mr. Parmanand Chaubey from Non-Executive Director to Executive & Managing Director. The company also proposes to regularize three additional directors (Ms. Bhoomi Bhadra, Mr. Divyesh Bhanushali, Ms. Iroda Ochilova) and appoint a new secretarial auditor. Most significantly, the company seeks shareholder approval to convert ₹1,490 crore of unsecured loans from 5 non-promoter entities into 149 crore equity shares at ₹10 per share — a massive preferential issue that would balloon total shares from ~1.03 crore to ~150 crore. To accommodate this, the authorised share capital would be raised from ₹13.2 crore to ₹10,000 crore. The company cites a 'financial crunch and cash flow mismatch' as the reason for loan-to-equity conversion.
This is a major dilution event — existing public shareholders would see their stake drop from ~99.98% to about 0.67% of the expanded capital, with the 5 non-promoter allottees collectively holding ~99% post-issue. Notably, Shanta Agencies (getting 23.33%) lists Mr. Parmanand Chaubey (the new MD) as its ultimate beneficial owner, raising related-party concerns. The debt-to-equity swap reduces liabilities but transfers effective control of the company to a small group of lenders/entities.