1. Sub-Division/Split of Equity Shares

The Board approved the sub-division/split of each existing equity share with a face value of ₹10 into 2 equity shares with a face value of ₹5 each. The new shares will be fully paid-up and rank pari passu in all respects with existing shares. This requires consequential alteration of the Capital Clause of the Memorandum of Association and is subject to approval by members and other applicable authorities.

Rationale: The split aims to make equity shares more affordable, enhance liquidity in the capital market, widen the shareholder base, and encourage participation by retail and individual investors.

Capital Structure Impact:

  • Authorized Share Capital: Remains unchanged at ₹25,00,00,000
  • Pre-split: 2,50,00,000 shares of ₹10 each
  • Post-split: 5,00,00,000 shares of ₹5 each
  • Issued, Subscribed and Paid-up Share Capital: Remains unchanged at ₹1,50,00,000
  • Pre-split: 15,00,000 shares of ₹10 each
  • Post-split: 30,00,000 shares of ₹5 each

Expected Completion: Within prescribed timelines, subject to member approval through postal ballot and other statutory/regulatory approvals.

2. Approval under Section 186 of Companies Act, 2013

The Board approved proposals for making loans, investments, giving guarantees, and providing securities under Section 186 up to an aggregate amount not exceeding ₹50,00,00,000 (Rupees Fifty Crores Only), subject to member approval.

3. Approval under Section 185 of Companies Act, 2013

The Board approved proposals for granting loans (including loans represented by book debts), giving guarantees, or providing securities in connection with loans to any person in whom any director is interested under Section 185 up to an aggregate amount not exceeding ₹50,00,00,000 (Rupees Fifty Crores Only), subject to member approval.

4. Approval of Postal Ballot Notice

The Board considered and approved the Postal Ballot Notice for seeking member approval for the aforementioned matters and other matters set out therein. The board authorized necessary actions in connection with the postal ballot process.