Notice of the Extra Ordinary General Meeting to be held on Friday, May 23, 2025
SAHLIBHFI · price
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Shalibhadra Finance Ltd has called an Extra Ordinary General Meeting on Friday, May 23, 2025, at 1:00 PM via video conferencing. Two items of business are on the agenda: (1) Increasing the Authorized Share Capital from Rs. 8 crore (80 lakh equity shares of Rs. 10 each) to Rs. 31 crore (3.10 crore equity shares of Rs. 10 each), requiring a Special Resolution; and (2) Issue of Bonus Equity Shares in the ratio of 3:1 (3 bonus shares for every 1 held), to be funded by capitalising up to Rs. 23.16 crore from Free Reserves and/or Securities Premium Account, taking paid-up capital to Rs. 30.88 crore. This is an Ordinary Resolution. The current paid-up capital stands at Rs. 7.72 crore based on audited financials for the period ended December 31, 2024. Cut-off date for e-voting eligibility is May 16, 2025; remote e-voting runs from May 20-22, 2025 via NSDL.
If approved, existing shareholders will receive 3 bonus shares for every share held, significantly expanding the share count and improving liquidity, though the stock price will adjust accordingly. The capital raise authorisation signals the company may plan further fundraising or equity expansion in the near term, and rewards shareholders for the company's claimed strong performance.