THe notice of EGM is enclosed.
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Awaiting price reaction for this filing.
Spinaroo Commercial Ltd has called an EGM on March 11, 2026, to seek shareholder approval for two key items. First, to increase the authorised share capital from Rs. 7 crore (70 lakh equity shares of Rs. 10 each) to Rs. 9 crore (90 lakh equity shares of Rs. 10 each). Second, to issue up to 7,89,000 equity shares on a preferential basis at Rs. 59.02 per share (face value Rs. 10 + premium of Rs. 49.02), aggregating to Rs. 4.65 crore. The shares will be issued to shareholders of Spino Poly Products Private Limited in a 1:1 swap ratio (non-cash consideration) to acquire approximately 39.45% stake in that company. Allottees include promoters, promoter group entities, and non-promoters. E-voting window opens March 8, 2026 and closes March 10, 2026.
This is a share-swap acquisition — Spinaroo will issue new equity to acquire a stake in Spino Poly Products rather than pay cash, which will lead to equity dilution for existing shareholders but expands the company's holding without cash outflow. The increase in authorised capital is a preparatory step to accommodate this preferential issue. Shareholders should watch for the acquisition closing and any future operational updates from Spino Poly Products.