The shareholders has approved the adoption of new set of articles of associations as per the provision of Companies Act, 2013
Awaiting price reaction for this filing.
At its 34th AGM held on September 30, 2025, Wisec Global Limited's shareholders approved multiple items including the adoption of new Memorandum and Articles of Association under the Companies Act, 2013. A notable change is the alteration of the Main Objects Clause, which broadens the company's business scope well beyond textiles to include trading in fabrics, clothing, electronics, groceries, spices, cosmetics, furniture, household items, and lifestyle products through retail outlets, e-commerce, and digital platforms, along with warehousing, logistics, and consultancy services. Shareholders also approved a borrowing limit of Rs. 15 crore and a separate limit of Rs. 2 crore for issuing secured/unsecured, listed/unlisted redeemable non-convertible debentures on a private placement basis. Mr. Rakesh Rampal (DIN: 01537696) was re-appointed as Whole Time Director for 3 years (till July 30, 2028), and M/s Shailendra Roy and Associates was appointed as Secretarial Auditor for 5 years (till March 31, 2030). Ms. Afrin (DIN: 10689215) was also confirmed as a director liable to retire by rotation.
The expansion of the Main Objects Clause signals a major strategic pivot from a textiles-focused business into a diversified retail, e-commerce, and logistics play, which could open new revenue streams but also increases execution risk. The higher borrowing and NCD limits (Rs. 15 crore and Rs. 2 crore) raise the company's future debt capacity, potentially leading to dilution or added leverage depending on deployment. Shareholders should watch for further announcements on how the new business lines and the raised funds are actually utilised.