Notice of Extra-Ordinary General Meeting of the Company will be held on Monday, February 23, 2026 at 11.00 AM through Video Conferencing / Other Audio Visual Means.
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TANFAC Industries has called an Extra-Ordinary General Meeting on February 23, 2026 at 11:00 AM via video conferencing. Key agenda items: (1) Sub-division (stock split) of equity shares from face value of Rs. 10 to Rs. 5 each in a 1:2 ratio, turning the existing 99.75 lakh equity shares into 1.995 crore shares (total equity capital stays at Rs. 9.975 crore); (2) Alteration of the Capital Clause of the Memorandum of Association to reflect the new face value; (3) Approval to raise up to Rs. 500 crore via Qualified Institutional Placement (QIP) or other permissible modes, through up to 10 lakh shares of Rs. 10 (or 20 lakh shares of Rs. 5 post-split); (4) Change of designation of Mr. Afzal Harunbhai Malkani from Non-Executive Non-Independent Director to Managing Director for a 5-year term (Jan 9, 2026 to Jan 8, 2031); (5) Appointment of Mrs. Sandhya Venugopal Sharma as Nominee Director (Non-Executive). Remote e-voting window: Feb 20-22, 2026; cut-off date: Feb 16, 2026.
The 1:2 stock split should lower the per-share price and improve retail affordability and liquidity, though total shareholder value remains unchanged. The Rs. 500 crore QIP approval signals a significant equity dilution ahead and indicates the company plans a sizeable capital raise, which could weigh on the stock in the short term. The new Managing Director appointment suggests a leadership transition at the company.