The Meeting of the Board of Directors of the Company held on February 16th, 2026 to discuss and approved the following: 1. Increase in the Authorised Share Capital of the Company from ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Vivid Mercantile Ltd, at its meeting on February 16, 2026, approved an increase in the company's authorised share capital from Rs. 10.03 crore to Rs. 15.25 crore, raising the cap on equity shares from 10.03 crore to 15.25 crore shares of Rs. 1 each (about a 52% increase). The change requires shareholder approval, for which a postal ballot notice has been approved, with M/s Neelam Somani & Associates appointed as scrutinizer. The subject line of the filing tags this as a 'Fund Raising' exercise, suggesting the headroom is being created for a future equity issuance. Separately, the board appointed Mr. Dhaval Satishkumar Gajjar — a non-executive, non-independent director from the promoter group and son of the Managing Director — as Internal Auditor for a 3-year term covering FY 2026-27 to FY 2028-29.
The authorised capital hike is preparatory and does not itself issue new shares; shareholders will vote on it via postal ballot. The related-party appointment of the MD's son as Internal Auditor is a governance red flag worth flagging to investors. Watch for a follow-up fund-raising announcement to understand the dilution risk.