Announced Sat, 4 Jul · 17:49 IST
Board reshuffle, authorised capital hike to 100 crore, EGM called
Corporate Actions View source PDF
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Board approved raising authorised share capital from 13 crore to 100 crore rupees (1.3 crore to 10 crore shares of 10 rupees) and altering the Objects clause of MOA. Chirag Thumar resigned as Managing Director; Shirish Savaliya appointed new MD for 5 years. CFO Yagnik Satasiya moved to Non-Executive Chairperson; Drashti Delvadiya appointed new CFO. Three directors resigned, committees reconstituted, EGM notice approved.
Likely market impact
Big leadership change with new MD and CFO. Authorised capital nearly 8x hike signals possible fundraising ahead, pending EGM approval.