We are resubmitting the 31st Annual Report are giving effect to the corrections in explanatory statement to Notice of the AGM
ORCHASP · price
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Orchasp Ltd is resubmitting its 31st Annual Report to BSE and NSE after rectifying errors found in the explanatory statement to the Notice of its AGM (scheduled for 30th September 2025). The errors were in Resolution No. 5 related to a preferential share issue, specifically in Points D (pricing/valuation), G (shareholding pattern reference), O (prior allotments to bondholders), Q (valuation for non-cash consideration), R (Practising Company Secretary's name), and U (listing on stock exchanges). The corrections clarify that 14,52,79,145 equity shares were earlier allotted to bondholders on conversion of 67 unsecured FCCBs, and add NSE to the listing application alongside BSE. The AGM will consider adoption of FY25 financial results, appointment of M/s JMT & Associates as statutory auditors for 4 years, re-appointment of Mr. P. Chandra Sekhar as MD & CFO, and three preferential allotments worth Rs 8.60 crore, Rs 4.17 crore, and Rs 7.12 crore to various parties on loan conversion.
This is a procedural correction filing rather than a material event — it signals prior disclosure lapses by the company in its AGM notice, which may concern governance-focused investors. The underlying preferential allotments on loan conversion will lead to equity dilution for existing shareholders if approved at the AGM on 30th September 2025.