Disclosure and Notice of 01/2025-26 EGM to be held on Friday, 09th May 2025.
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Awaiting price reaction for this filing.
The company has called an EGM on Friday, May 9, 2025 at 3:00 PM via video conferencing, with remote e-voting from May 4 to May 8, 2025 and a cut-off date of May 2, 2025. Key business items include: (1) changing the company name to 'Trustedge Capital Limited', (2) increasing authorized share capital from ₹5.5 crore (55 lakh shares) to ₹7 crore (70 lakh shares), (3) issuing up to 8,85,000 equity shares on a preferential basis to promoter-group members at ₹57 per share (₹47 premium), aggregating about ₹5.04 crore, (4) appointing Ms. Shaily Jatin Dedhia as Independent Director for 5 years, (5) re-appointing Mr. Manoj Shantilal Savla as Chairman & Managing Director for 3 years, (6) launching the 'TEDGE ESOS 2025' employee stock option scheme covering up to 10 lakh options, (7) granting ESOPs exceeding 1% of capital to the CEO, (8) approving borrowing powers up to ₹250 crore, and (9) approving creation of charges/mortgages up to ₹250 crore. The filing is signed by Manoj Shantilal Savla (Managing Director, DIN: 01529306).
The agenda indicates a major restructuring and rebranding — existing minority shareholders will see dilution from the ₹5+ crore promoter-group preferential issue at a premium, while the proposed ₹250 crore borrowing limit and charge creation suggest large upcoming fundraising or expansion. The name change to 'Trustedge Capital Limited' and the new ESOP scheme hint at a strategic shift toward capital/financial services, though execution still requires RBI/MCA approvals and shareholder votes at the EGM.