Announced Mon, 6 Jul · 17:21 IST
Board okays name change to Cosmic Energy & Motors, capital hike to Rs 50 cr
Board & Shareholder Meetings View source PDF
Price
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Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Shashank Traders board approved major restructuring: name change to Cosmic Energy & Motors Limited, authorized capital hike from Rs 3.5 cr to Rs 50 cr, and business pivot from general trading to electric vehicles, batteries, and auto parts. Also approved borrowing and investment limits up to Rs 500 cr each, new statutory auditor G K Tulsyan & Co, registered office shift in New Delhi from July 15, and EOGM on July 30.
Likely market impact
Major business pivot to EVs with 14x authorized capital hike and new name Cosmic Energy & Motors. Shareholder vote on July 30.