Pursuant to Regulation 30 & 34, we do hereby submit Annual Report 2024-25. This is to inform you that, the Company has already submitted Annual Report 2024-25 to the BSE on 25th July ....
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Springform Technology Ltd (Scrip Code: 501479) has submitted its Annual Report for FY 2024-25 along with the Notice of its 45th Annual General Meeting, scheduled for Wednesday, 20th August 2025 at 11:30 AM via Video Conferencing. The remote e-voting window runs from 17th August (9:00 AM) to 19th August 2025 (5:00 PM), with the cut-off date set as 13th August 2025. The AGM agenda includes 15 resolutions, several of which are significant: a massive increase in Authorised Share Capital from ₹5 lakh to ₹10.10 crore (from 50,000 shares to 1.01 crore shares), a preferential allotment of 1,00,50,000 equity shares at ₹10 each (aggregating ₹10.05 crore) to promoters and non-promoters, a change in the Object Clause to add a 'high performance coating' business, shifting of the Registered Office from Maharashtra to Delhi, approval for borrowings up to ₹100 crore, and a material related party transaction with wholly-owned subsidiary Inertia Aluminium Pvt Ltd. The meeting also seeks shareholder approval for the appointment of Mr. Paramjeet Singh Chhabra as Managing Director (5 years), appointment of two Independent Directors (Mr. Rajiv Malik and Mr. Sanjay Kumar Garg for 5 years each), appointment of M/s Ajay K. Kapoor & Co. as new Statutory Auditors (replacing M/s Vandana V. Dodhia & Co. who resigned), and Ms. Ritika Wasson as Secretarial Auditor for a 5-year term.
For shareholders: The preferential issue is heavily promoter-weighted (about 75% of shares going to promoter group entities), signaling promoter commitment, but it will dilute existing non-involved shareholders significantly given the scale relative to current capital. The substantial increase in Authorised Share Capital, addition of a new coating business line, registered office shift to Delhi, and higher borrowing limits point to a major strategic expansion or restructuring phase ahead. Investors should review the Annual Report and the detailed terms of the preferential issue and related party transaction carefully before the e-voting window.