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TANFAC Industries held an Extra-Ordinary General Meeting (EGM) on February 23, 2026 via video conferencing, where all 5 resolutions were passed with near-unanimous shareholder support (99.9994% in favour, only 29 votes against). Key resolutions included: (1) sub-division (stock split) of equity shares, (2) alteration of the capital clause of the Memorandum of Association, (3) a Special Resolution to raise up to Rs.500 crore by issuing up to 10 lakh equity shares of Rs.10 face value (or 20 lakh shares of Rs.5 post-split), (4) change in designation of Mr. Afzal Harunbhai Malkani from Non-Executive Non-Independent Director to Managing Director, and (5) appointment of Mrs. Sandhya Venugopal Sharma as a Nominee Director. Total shares outstanding stood at 99.75 lakh, with promoters holding 51.68 lakh shares (all voted in favour). Around 51.85% of total shares were polled.
Shareholders can expect a stock split, which typically improves liquidity and makes shares more affordable for retail investors. The Rs.500 crore fund-raising plan is a significant capital expansion relative to the company's size and may lead to equity dilution, though it could fund future growth. Leadership transition with a new Managing Director is now formally approved.