Board Meeting outcome for the Board meeting held on June 23, 2025
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The board of Suditi Industries Ltd met on June 23, 2025 and approved multiple items, including the Board's Report, Corporate Governance Report and Annual Report for FY ended March 31, 2025. It appointed M/s. Shambhu Gupta & Co as Internal Auditor for FY 2025-26 and Ms. Amita Karia as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30). The board also approved a preferential issue of up to 15,74,182 equity shares at Rs. 57.05 per share (including Rs. 47.05 premium) to 11 non-promoter investors, aggregating up to Rs. 8,98,07,083 (about Rs. 8.98 crore). A special resolution was recommended for the regularization of Mr. Manish Harishchandra Singh as a Non-Executive Non-Independent Director for five years. The 34th AGM is scheduled for July 16, 2025 via video conferencing, with July 9, 2025 as the cut-off date for e-voting eligibility.
The preferential allotment of 15.74 lakh shares to non-promoter investors will dilute existing shareholders and increase the share count, but raise about Rs. 8.98 crore for the company. Since the issue price includes a substantial Rs. 47.05 premium over face value, the impact on existing shareholders is moderate. Shareholder approval will be required at the upcoming AGM.