The Board approved the increase in the Authorised Share Capital of the Company Conduct Postal Ballot by means of E-voting for obtaining approval of the members of the Company
Awaiting price reaction for this filing.
Murae Organisor Ltd's board has approved raising the authorised share capital from Rs. 190 crore to Rs. 205 crore, an increase of Rs. 15 crore, by adding 15 crore new equity shares of Rs. 1 each. The company will conduct a postal ballot via e-voting to seek shareholder approval for three items: altering the main objects clause of the MoA, increasing the authorised capital, and issuing bonus shares in a 1:10 ratio (1 new share for every 10 existing shares). The e-voting cut-off date is fixed as June 20, 2025, and a scrutinizer has been appointed. The company was formerly known as Earum Pharmaceuticals Limited.
If approved by shareholders, the 1:10 bonus issue will increase the total share count by 10%, proportionally diluting per-share metrics but rewarding existing shareholders with extra shares. The higher authorised capital also gives the company flexibility for future fund-raising.