Board Meeting outcome for Consideration And Approval Of Increase In Authorised Share Capital Of The Company And Consequential Amendment In Memorandum Of Association Of The Company.
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The Board of Directors of Rungta Irrigation Ltd, at its meeting on March 27, 2026, approved doubling the Authorised Share Capital from Rs. 20 Crore (2 crore equity shares of Rs. 10 each) to Rs. 40 Crore (4 crore equity shares of Rs. 10 each). This will also require a corresponding amendment to the capital clause of the Memorandum of Association. The company will seek shareholder approval through a Postal Ballot process, with e-voting open from April 2, 2026 to May 1, 2026 and a cut-off date of March 27, 2026. Ishant & Associates has been appointed as the scrutinizer for the postal ballot process.
This is a preparatory step that gives the company room to issue more shares in the future, but no shares are being issued right now. Existing shareholders should watch the postal ballot outcome and any subsequent fundraising announcements, as the increased authorised capital could enable a future equity dilution.