Please find attached Outcome of Board Meeting held today
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The Board of Tuni Textile Mills met on June 3, 2025 and approved several key items. Most notably, the company proposes to increase its Authorised Share Capital nearly five-fold, from Rs. 13.5 Crore to Rs. 65 Crore (keeping face value at Re. 1 each), subject to shareholder approval. The Board also approved borrowing limits of up to Rs. 100 Crore and creating charges on company assets up to the same amount. Ms. Kriti Daga was appointed as Secretarial Auditor for five years (FY 38th to 43rd AGM), and M/s A K S A & Co. as Internal Auditors for FY 2025-26. Remuneration of Managing Director Narendra Kr. Sureka and Executive Director Pradeep Kr. Sureka was revised. The 38th AGM is scheduled for June 25, 2025 via video conferencing.
The sharp increase in authorised share capital and the higher borrowing cap suggest the company is preparing for potential fundraising or expansion, which could lead to future dilution if new shares are issued. Shareholders should watch the AGM for further clarity on the purpose of the capital expansion.