Outcome of Board Meeting held on Thursday , 11th December , 2025
Awaiting price reaction for this filing.
The Board approved increasing the company's Authorised Share Capital from Rs. 14 crore to Rs. 35 crore. It cleared a preferential issue of 1,00,00,000 equity shares (face value Rs. 10 each) to four foreign fund investors (AL Maha Investment Fund, Altitude Investment Fund, Green Horizon Fund, and Minerva Ventures Fund), with each fund subscribing to 25,00,000 shares. The issue price is yet to be determined under SEBI ICDR pricing formula. The Board also raised the FPI/FII/NRI investment limit to 100% of the company's capital and increased the Section 186 investment limits. Four directors were regularised, and an EGM is scheduled for January 3, 2026, to seek shareholder approval.
This is a significant equity dilution event for existing shareholders as 1 crore new shares (all to non-promoter investors) will be issued. The capital raise may strengthen the company's balance sheet and enable business expansion, but existing shareholders' stake will reduce proportionally subject to the final issue price.