Vineet Laboratories Limited has informed the Exchange regarding Outcome of Board Meeting held on May 14, 2025 -The Board of Directors of the company in its meeting held today i.e., on Wednesday, May 14, 2025 has approved the following, subject to the approval of the shareholders:1. the appointment of Mr. Rajesh Kumar Kathulla (DIN: 05349717) as an Additional Director, designated as Whole Time Director of the Company effective May 14, 2025; 2. the increase of Authorised Share Capital from the existing ₨.10,81,00,000/- (Rupees Ten Crore Eighty one Lakh Only) consisting of 1,08,10,000 (One Crore Eight Lakh Ten Thousand Only) equity shares of face value ₨.10.00/- each to ₨ 20,00,00,000/- (Rupees Twenty Crore Only) consisting of 2,00,00,000 (Two Crore Only) equity shares of face value ₨.10.00/- each, and the consequent alteration of Clause V of the Memorandum of Association of the Company.
VINEETLAB · price
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The Board of Directors of Vineet Laboratories, at its meeting on May 14, 2025, approved two key items subject to shareholder approval. First, Mr. Rajesh Kumar Kathulla (DIN: 05349717) has been appointed as an Additional Director designated as Whole Time Director, effective the same day. Second, the company proposes to increase its Authorised Share Capital from ₹10.81 crore (1,08,10,000 equity shares of ₹10 each) to ₹20 crore (2,00,00,000 equity shares of ₹10 each), nearly doubling the authorised limit. This will also require an amendment to Clause V of the Memorandum of Association. Both decisions are pending shareholder approval.
Shareholders will get a vote on the new director appointment and the proposed capital expansion, which gives the company more headroom to issue fresh shares in the future. The near-doubling of authorised capital could be a precursor to a fundraising round or stock split, which may dilute existing holdings if any new shares are eventually issued.