The Board of Directors of the Rose Merc Limited ('the Company') at their meeting held today, i.e., Thursday, January 29, 2026, inter alia, transacted, discussed and approved the matters ....
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Rose Merc Ltd's Board, meeting on January 29, 2026, approved multiple items including raising Authorised Share Capital from Rs. 20 crore to Rs. 25 crore and altering the Object Clause of the MoA to make real estate/property dealing the main object (shifting the earlier precious stones/jewellery object to other objects). The Board elevated Ms. Vaishali Parkar Kumar from Whole-time Director & CFO to Managing Director & CFO, with the change effective till October 15, 2028, subject to shareholder approval via postal ballot. A preferential issue of 41,111 convertible equity warrants at Rs. 90 per warrant (face value Rs. 10, premium Rs. 80), aggregating up to ~Rs. 37 lakh, was approved for promoter Kirti Chunilal Savla (11,111 warrants) and non-promoter Vijay Acharya (30,000 warrants). An unsecured inter-corporate loan of Rs. 5 crore was extended to subsidiary Navi Mumbai Premier League Pvt Ltd (25% holding). Additionally, the Board approved a property investment of up to Rs. 8 crore to buy ~1.20 hectares of land at Lohgad, Lonavala, taking aggregate property investment to about Rs. 9.30 crore.
Several items need shareholder approval through a postal ballot, including the MoA changes, capital hike, and managing director appointment. The warrant issue is small (~Rs. 37 lakh) but signals early-stage fundraising direction. The Rs. 5 crore loan to the subsidiary, ~Rs. 9.30 crore property investment and the shift in main business object toward real estate suggest the company is pivoting towards property/investment activities, which shareholders should monitor closely.