Increase in Authorised Share Capital of the Company from Rs 130 Crores to Rs. 150 Crores with consequential alteration in Memorandum and Articles of Association of the Company.
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Sakthi Finance's board, at its meeting on August 14, 2025, approved multiple corporate actions pending shareholder approval at the next AGM. Two new Independent Directors — Smt. Susheela Balakrishnan (Chartered Accountant with 40+ years' experience) and Sri S Chandrasekhar (industrialist with MBA) — were appointed for 5-year terms. Managing Director Sri M Balasubramaniam (related to Chairman Dr M Manickam and Director Sri M Srinivaasan) was re-appointed for another 5 years from September 29, 2025. The board also approved raising up to Rs 250 crore via secured NCDs/commercial papers (up to 12% interest, 10-year tenure) and Rs 20 crore via redeemable cumulative preference shares (up to 12%, 20-year tenure), all on private placement. Additionally, authorised share capital will be raised from Rs 130 crore to Rs 150 crore with corresponding changes to the Memorandum and Articles of Association.
Shareholders should note that these are housekeeping actions with no immediate dilution, but signal the NBFC's intent to scale borrowings and capital base. The Rs 20 crore preference share and Rs 250 crore NCD plans could add to debt servicing obligations, though approvals are subject to AGM voting.