The summary of proceedings of the Extra ordinary general meeting held on 22/01/2026 is hereby submitted.
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Shish Industries Limited held an Extra Ordinary General Meeting on January 22, 2026, via video conferencing, where three special resolutions were discussed. First, the company proposed increasing its authorized share capital from Rs. 40 crore to Rs. 53 crore (divided into 53 crore equity shares of Re. 1 each), along with the corresponding alteration to its Memorandum of Association. Second, the board approved issuing up to 4 crore equity shares of Re. 1 each at Rs. 12 per share on a preferential basis to identified non-promoter investors, which could raise up to Rs. 48 crore. Third, the company sought approval to issue fully convertible equity warrants on a preferential basis to raise additional funds for strengthening the balance sheet, long-term growth, and general corporate purposes. Voting results were pending and would be declared within 48 hours of the meeting after scrutiny by M/s Alap & Co. LLP. The meeting lasted just 10 minutes, with one shareholder speaking and expressing support for all resolutions.
For existing shareholders, the proposed preferential equity issue at Rs. 12 per share and the convertible warrant issue will lead to dilution of their holdings, though the company states no allottee will receive more than 5% of the post-issue capital and there will be no change in control. The capital raise is aimed at funding growth and strengthening the balance sheet, which could be positive if deployed effectively, but the short-term stock price may face pressure from the dilutive issuance.