ENCLOSED HEREWITH NOTICE OF EGM DATED 30/04/2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The EGM will consider three resolutions: (1) Increase in authorised share capital from Rs. 7 crore to Rs. 8 crore; (2) Preferential issue of 30 lakh equity shares at Rs. 10 each to raise Rs. 3 crore, with the promoter Sumita Mishra receiving 15.14 lakh shares (Rs. 1.51 crore) and 11 non-promoter allottees receiving the remainder; (3) Amendment to the Main Object Clause of the Memorandum of Association to add real estate development and general trading businesses. The company has a pending NCLT petition for capital reduction. The post-reduction paid-up capital is Rs. 9.89 lakh (98,916 shares) and after the preferential issue it will become Rs. 3.09 crore (30.98 lakh shares). Voting will be conducted via remote e-voting from April 27-29, 2026.
This is a highly dilutive transaction – the share capital will increase over 31x after the preferential issue. The promoter is taking a dominant stake (49% of the new issue). The MOA amendment signals a shift from the original synthetic textiles business into real estate and trading, representing a fundamental change in business direction.