Proceedings of the Extra-Ordinary General Meeting of the Company.
Awaiting price reaction for this filing.
Axentra Corp Ltd (BSE: 511634), formerly Dugar Housing Developments, held an Extra-Ordinary General Meeting on 3 January 2026 in Chennai with 34 shareholders present. Nine resolutions were transacted, covering an increase in authorised share capital, raising of funds through a preferential equity allotment to non-promoter public category investors, and an increase in FII/FPI/NRI investment limits. Three additional directors (Mr. Vinoth Kumar Mohanadas, Mr. Yasiru Lelwala, and Mr. Nirmal De Soysa Cooke) were regularised, and Mr. Palaniappan Kumarappan was appointed as Managing Director. Shareholders also ratified the compliance certificate for the company's recent name change. Voting results, including remote e-voting held from 31 Dec 2025 to 2 Jan 2026, are to be announced within two working days.
The preferential equity allotment and authorised capital hike signal a near-term capital raise that could lead to equity dilution for existing shareholders. The new management lineup and board additions point to a strategic shift, likely tied to the company's recent name change from Dugar Housing Developments to Axentra Corp, which suggests a pivot in business focus.