Appointment of Mr. Jubin Gada as additional director of the company.
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Saptak Chem and Business Ltd held a board meeting on October 14, 2025 where it approved the appointment of Mr. Jubin Premji Gada as an Additional Director (Non-Executive Independent Director), effective the same day, until the next Annual General Meeting. Mr. Gada holds DIN 10820579 and is a graduate with expertise in event management and marketing. The board also approved a preferential issue of 40 lakh convertible equity warrants at Rs. 10.50 per warrant, aggregating up to Rs. 4.20 crore, to be allotted to eight non-promoter public allottees, each receiving 5 lakh warrants (9.86% post-issue holding). An Extraordinary General Meeting has been scheduled for November 12, 2025 via video conferencing to seek shareholder approval, with Mrs. Rupal Patel appointed as scrutinizer.
The appointment strengthens the board with an independent director, while the Rs. 4.20 crore preferential warrant issue, if approved, will dilute existing shareholders by about 78.85% post-conversion — a significant dilution event worth monitoring closely by current shareholders.