Key Quantitative Figures
- Authorised Share Capital Increase: Approved increase from ₹8,50,00,000 (85,00,000 equity shares of ₹10 each) to ₹15,00,00,000 (1,50,00,000 equity shares of ₹10 each) by creating additional ₹6,50,00,000 (65,00,000 equity shares of ₹10 each).
- Convertible Warrants Issue: Approved issue of up to 66,00,000 convertible warrants at an issue price of ₹44 each (including premium of ₹34 each), aggregating to ₹29,04,00,000.
- Warrant Conversion Terms: Each warrant convertible into 1 equity share within 18 months from allotment date. Minimum 25% of warrant price payable upfront, balance 75% payable at conversion.
Dates of Action
- Board Meeting Date: August 5, 2026 (commenced at 4:00 PM IST, concluded at 4:40 PM IST).
- AGM Date: September 1, 2026 at 4:00 PM at company's registered office.
Parties Involved
- Scrutinizer Appointed: M/s. Amit Dharmani & Associates, Company Secretaries
- Allottees for Convertible Warrants:
1. Hemant Chandravadan Bhagat (Promoter) - 5,00,000 warrants
2. Chitra Hemant Bhagat (Promoter Group) - 5,00,000 warrants
3. Pranav Hemant Bhagat (Promoter) - 10,00,000 warrants
4. Prachi Pranav Bhagat (Promoter Group) - 9,50,000 warrants
5. Mahesh C Bhagat (Promoter Group) - 7,00,000 warrants
6. Jay Hemant Bhagat (Promoter Group) - 7,00,000 warrants
7. Lopa Mahesh Bhagat (Promoter Group) - 6,50,000 warrants
8. Samir Ramakant Dave (Non-promoter) - 8,00,000 warrants
9. Chintan Vijay Makhecha (Non-promoter) - 8,00,000 warrants
Conditions and Approvals Required
All resolutions are subject to approval of shareholders through special resolution at the Annual General Meeting scheduled for September 1, 2026.
Additional Documents Approved
- Directors' Report for financial year ended March 31, 2026
- Notice of Annual General Meeting