Ujaas Energy Limited has informed the Exchange about Intimation of Adjournment of 1st Extra Ordinary General Meeting of the Company.
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Ujaas Energy Limited's 1st Extra Ordinary General Meeting, originally scheduled for May 13, 2025, was adjourned on the day itself due to insufficient quorum and has been rescheduled to Tuesday, May 20, 2025 at 2:30 PM at the company's registered office in Indore. The sole business to be transacted is the approval of a bonus share issuance at a ratio of 17 new equity shares for every 25 existing shares held. The bonus shares will be issued only to public shareholders (excluding promoters and promoter group), with promoters forgoing their entitlement, in order to help the company comply with the SEBI Minimum Public Shareholding (MPS) requirement. The bonus will be funded by capitalising up to Rs. 45.06 lakh from free reserves and/or securities premium account. The company emerged from the Corporate Insolvency Resolution Process (CIRP) after its resolution plan was approved by NCLT Indore on October 13, 2023 in favour of SVA Family Welfare Trust and M&B Switchgears.
The adjournment is procedural but reflects low shareholder participation, which is a mild negative signal. For public shareholders, the proposed bonus issue (if approved on May 20) is positive as it directly increases their holdings at no cost and supports the stock's liquidity; however, the dilution for promoters is a structural step tied to MPS compliance, meaning the share price may adjust technically on the ex-bonus date.