The Board Considered and approved the appointment of M/s. Shailendra Roy and Associates as Secretarial Auditor of the company for a term of 5 years, subject to the approval of members.
Awaiting price reaction for this filing.
Wisec Global's board approved a major expansion of its business objects to include trading in fabrics, clothing, electronics, groceries, spices, cosmetics, furniture, household items, and lifestyle products through retail outlets and e-commerce platforms, along with logistics, warehousing, and consultancy services. The board also approved borrowing limits of up to Rs. 5 crore and issuance of secured/unsecured redeemable non-convertible debentures of up to Rs. 2 crore on a private placement basis. M/s. Shailendra Roy and Associates was appointed as Secretarial Auditor for a 5-year term, subject to shareholder approval. The 34th AGM is scheduled for September 30, 2025, with no dividend declared. The board also approved the MDAR, Corporate Governance Report, and Director's Report for FY24-25.
The sharp shift toward retail and e-commerce of consumer goods signals a significant business pivot for the company, which may reshape its future revenue profile. The new borrowing and NCD limits of up to Rs. 7 crore combined indicate planned capital raising, while the absence of a dividend suggests the company is reinvesting into this new direction.