ENCLOSED HEREWITH NOTICE OF EXTRA-ORDINARY GENERAL MEETING OF COMPANY TO BE HELD ON 18/03/2026 AT 1:00 PM THROUGH VC
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Sanmit Infra Limited has called an EGM on March 18, 2026 at 1:00 PM via video conferencing. The meeting will consider four key items: (1) consolidation of equity share face value from Rs. 1 to Rs. 10, meaning every 10 shares will be consolidated into 1 share; (2) corresponding amendment to the capital clause in the Memorandum of Association to reflect new authorized capital of Rs. 16 crores (1,60,00,000 shares of Rs. 10 each); (3) appointment of Mr. Nandkumar Gorkhnath Patil (DIN: 11518058) as Non-Executive Independent Director for a 5-year term (Feb 4, 2026 to Feb 3, 2031); and (4) acquisition of 51% stake (51,000 equity shares for Rs. 5,10,000) in a proposed company called Sanmit Truevalue Infraprojects Private Limited, making it a subsidiary. Cut-off date for e-voting eligibility is March 11, 2026, with remote e-voting open from March 15-17, 2026.
The share consolidation will reduce the total number of outstanding shares by a factor of 10 but will not change any shareholder's proportional ownership or the company's total market value. Shareholders with holdings not in multiples of 10 will receive cash for fractional shares. The new subsidiary acquisition is small (Rs. 5.1 lakhs) and unlikely to materially affect financials, but signals a strategic expansion move.