ENCLOSED HEREWITH OUTCOME FOR CONSOLIDATION OF SHARES
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sanmit Infra Ltd's board, at its meeting on 4 February 2026, recommended consolidating 10 equity shares of face value Rs. 1 each into 1 equity share of Rs. 10 each, subject to shareholder approval at the EGM scheduled for 18 March 2026. The paid-up capital remains unchanged at Rs. 15.80 crore — only the number of outstanding shares will reduce from about 15.80 crore to 1.58 crore. The board also approved a Rs. 200 lakh term loan from SIDBI under the STEP Scheme at 8.85% interest for working capital at its Raigad manufacturing unit. Additionally, CEO Shlok Sanjay Makhija resigned effective 31 December 2025, and one independent director's term ended on 5 January 2026, with a new independent director appointed in his place.
The 10:1 consolidation will reduce the number of shares and raise the per-share price proportionally, but does not change the company's market value or any shareholder's proportional ownership. The SIDBI loan adds modest leverage for working capital needs, while the CEO exit and board changes are administrative.