Please find attached the summary of the proceedings of the EGM held today i.e. 20th March, 2026 at 1.00 PM through VC/OAVM.
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UVS Hospitality And Services Ltd held its 1st EGM for FY25-26 on 20th March 2026 at 1:00 PM via video conferencing, chaired by Mr. Utkarsh Vartak. Eight resolutions were tabled, all of strategic importance. The key item is the acquisition of up to 51% stake in Calcio Restaurants Private Limited through a share swap involving 35,02,671 equity shares of UVS allotted to non-promoters on a preferential basis. The company also plans to raise further funds by issuing up to 15,83,000 equity shares and 31,65,000 convertible warrants (face value Rs. 10 each) on a preferential basis to non-promoters. Additionally, authorised share capital will be increased, Mrs. Prathima Madineni (DIN: 06365444) will be regularised as Executive Director and elevated to Managing Director, foreign investment limits will be raised to 100% of paid-up capital, and related party transactions have been approved. Remote e-voting ran from 17th to 19th March, and results will be announced after the scrutiniser's report.
For shareholders: The Calcio Restaurants acquisition marks a major diversification move into the food and beverage space via share swap, which will dilute existing holdings but could bring operational synergies. The combined preferential equity and convertible warrants (totalling up to ~47.48 lakh shares) signal further equity dilution. Appointment of a new Managing Director and 100% FDI clearance suggest the company is positioning itself for significant growth and external capital inflows.