The Shareholders of the company has approved the alteration and adoption of new set of memorandum of association as per the provision of Companies Act, 2013
Awaiting price reaction for this filing.
At its 34th Annual General Meeting held on 30 September 2025, Wisec Global Ltd's shareholders approved multiple key resolutions. The most significant is an alteration of the Main Objects Clause of the Memorandum of Association, massively expanding the company's permitted business from textiles to a broad multi-product retail and e-commerce play covering fabrics, clothing, electronics, groceries, spices, fruits, vegetables, dry fruits, cosmetics, furniture, household items and lifestyle products, plus marketing, warehousing, logistics, packaging, delivery and consultancy services. Shareholders also approved the adoption of a new set of Memorandum and Articles of Association under the Companies Act, 2013. A fresh borrowing limit of Rs. 15 crore was cleared, along with permission to issue secured/unsecured, listed/unlisted redeemable non-convertible debentures up to Rs. 2 crore on a private placement basis. Additionally, Mr. Rakesh Rampal was re-appointed as Whole Time Director for three years (until 30 July 2028), Ms. Afrin was appointed as a director liable to retire by rotation, and M/s Shailendra Roy and Associates was appointed as Secretarial Auditor for five years (FY2025-26 to FY2029-30).
The MoA change signals a strategic pivot toward diversified retail and e-commerce, which could open new revenue streams but also raises execution and capital-intensity risk for a small Delhi-based company. The Rs. 15 crore borrowing ceiling and Rs. 2 crore NCD approval suggest management is gearing up to raise funds to support this expanded business plan, which shareholders should watch closely.