Ujaas Energy Limited has informed the Exchange regarding Intimation of Adjournment of 1st Extra Ordinary General Meeting of the Company.
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Ujaas Energy's 1st EGM, originally scheduled for May 13, 2025, was adjourned because the required quorum was not present. The meeting has been rescheduled to May 20, 2025 at 2:30 pm at the company's registered office in Indore, and will consider the same business as before. The sole agenda is the approval of a bonus share issue at a ratio of 17 new equity shares for every 25 existing shares, but only to public shareholders (excluding promoters and the promoter group), to help the company meet the minimum public shareholding (MPS) norm. The bonus will be funded by capitalising up to Rs. 45.06 lakh from free reserves and/or the securities premium account, and promoters have agreed to forgo their own entitlement. The document also notes that the company went through the Corporate Insolvency Resolution Process (CIRP) under the IBC, with the NCLT approving the resolution plan of SVA Family Welfare Trust and M&B Switchgears in October 2023.
The adjournment is a routine procedural step and does not change the underlying agenda; shareholders should watch the May 20 EGM for the final outcome. If the bonus issue is approved, public shareholders will receive 17 free shares for every 25 held, while promoter holdings will be further diluted, and the stock is likely to see a price adjustment on the ex-date in line with the bonus ratio.