EGM notice: name change to Cosmic Energy & Motors, pivot to EV business
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Shashank Traders Ltd has called an EGM on July 30, 2026 via video conferencing to seek shareholder approval for: changing the company name to Cosmic Energy and Motors Limited, shifting the main objects clause to electric vehicles, batteries, battery swapping and charging stations, increasing authorized capital from Rs 3.5 crore to Rs 50 crore (adding 4.65 crore equity shares of Rs 10 each), raising borrowing and investment limits to Rs 500 crore each, and regularizing multiple director appointments including Mr. Aditya Vikram Birla as Chairman and Mr. Anil Kumar Singh as Whole-time Director for 5 years.
Major pivot from trading to EV and energy business, 14x jump in authorized capital, and Rs 500 crore borrowing headroom. Watch for potential dilution and execution risk.