Notice of Postal Ballot dated 15.05.2025 and Intimation of Remote E- voting and Explanatory statement which is sent to the members.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Hari Govind International Limited has sent a Postal Ballot Notice to members seeking approval through remote e-voting (May 15 to June 13, 2025) for six key resolutions. The company proposes to adopt a new Memorandum of Association with an expanded object clause covering readymade garments, baby food, health drinks, toys, toiletries and hygiene products, suggesting a pivot into the baby care/consumer products space. It plans to double its authorized share capital from ₹5.25 crore to ₹10.25 crore (adding 50 lakh equity shares of ₹10 each). The board also seeks approval to issue 37,75,000 equity shares on a preferential basis at ₹10 each, raising ₹3.77 crore from 14 allottees, including 15 lakh shares to proposed new promoters Shaju Thomas and Linta P Jose. Additionally, three directors — Reveesh Moolamkuzhiyil Varghese, Rishin Rasheed (as Independent Directors) and Aneesh Kumar K Kuniyil (as Whole-Time Director) — are being regularized for 5-year terms effective May 14, 2025. Note: the BSE headline wrongly attributes this filing to Popees Baby Care India Ltd; the actual document is from Hari Govind International Ltd (Scrip Code: 531971).
Existing shareholders should watch for dilution from the preferential issue (₹3.77 crore at face value, with promoter-friendly allotment to new proposed promoters) and a likely change in business direction toward baby care and consumer products. The capital infusion is small and at face value, but entry of new promoters signals a possible change in control or strategic shift.