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Pratiksha Chemicals has called an Extraordinary General Meeting on 20th February 2026 with 12 special businesses. The company proposes to change its name to 'Vellora Impact Limited' and massively widen its object clause to enter IT services, gold/precious metals trading, laminates, debt recovery, and agri-commodities. Authorised share capital is proposed to be raised from ₹7.5 crore to ₹32 crore. The company also plans to issue up to 1.70 crore fully convertible warrants (~₹37.06 crore) and 87.18 lakh equity shares (~₹18.93 crore) at ₹21.72 each to non-promoters on a preferential basis. Additionally, borrowing powers are being raised to ₹200 crore, investments/loans limit raised to ₹200 crore, and several new directors including Mr. Sumit Gol as Managing Director are being regularised.
This is a transformative announcement: the company is effectively rebranding and pivoting from a pure chemicals business into a diversified multi-sector entity, while raising fresh capital and significantly expanding debt capacity. Existing shareholders should expect equity dilution from the preferential allotments and warrants, and should watch for the rationale behind such an aggressive diversification and the identity of the allottees.