The Members of the Company through Postal Ballot approved the amendment to the Memorandum and Articles of Association of the Company.
QUINT · price
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Quint Digital Ltd has informed the stock exchange that its shareholders approved two key proposals through a postal ballot (e-voting) on March 5, 2026. First, the company's authorised share capital of Rs. 210 crore has been reclassified: instead of 21 crore equity shares of Rs. 10 each, it will now consist of 10 crore equity shares of Rs. 10 each and 1.1 crore preference shares of Rs. 100 each. Second, the company has adopted a new set of Articles of Association aligned with recent changes in SEBI regulations and the Companies Act. The amendments are aimed at updating governance practices, improving operational flexibility, and meeting current statutory requirements. The revised constitutional documents have been made available on the company's website.
The reclassification does not change the total authorised capital of Rs. 210 crore but introduces room for preference share issuance, which could be used to raise funds without diluting existing equity holders further. The updated Articles simply bring governance rules in line with current law and are not expected to have a direct impact on share price, though they may indicate preparation for future capital-raising activity.