Issuance of 40,50,000 (Forty Lakh fifty Thousand) equity shares of face value of Rs. 10/- @ Rs 22/- per equity shares (including premium of Rs. 12/-) of the Company on a preferential basis ....
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The board approved a preferential issue of 40,50,000 equity shares at Rs. 22 per share (face value Rs. 10, premium of Rs. 12), expected to raise around Rs. 8.91 crore from 19 allottees, mostly individual investors, subject to shareholder and regulatory approvals. The board also approved changing the company's name from 'Orient Tradelink Limited' to 'Radiant Global Ventures Limited'. Mr. Aushim Khetarpal was re-appointed as Managing Director for five years effective 1 September 2024, and Mr. Mahendra Prasad Sharma was regularised as Independent Director for a five-year term. New Statutory Auditors (NYS & Company) and Secretarial Auditors (Vaibhav Sharma & Associates) were appointed for five-year terms, pending shareholder approval at the upcoming AGM.
The preferential issue at a premium will dilute existing shareholders by introducing ~4 crore new shares, but pricing above face value is a positive signal. The proposed name change and management continuity suggest a strategic rebranding, while new auditor appointments bring fresh oversight.