Choice International Limited disclosed the outcome of its Board of Directors meeting held on November 02, 2026 (Monday) from 3:30 PM to 6:00 PM. The disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI circulars CIR/CFD/CMD/4/2015 dated September 09, 2015 and SEBI/HO/CFD/CFD-PoD-UP/CIR/2023/23 dated July 13, 2023.
Key Decisions Approved by the Board:
1. Increase in Authorized Share Capital: The Board approved increasing the authorized share capital from ₹225,00,00,000 (Rupees Two Hundred Twenty Five Crores) divided into 22,50,00,000 equity shares of ₹10 each to ₹447,80,00,000 (Rupees Four Hundred Forty Seven Crores Eighty Lakh) divided into 44,78,00,000 equity shares of ₹10 each. This increase is consequential to the bonus issue approval and requires alteration of the Capital Clause in the Memorandum of Association.
2. Bonus Issue Proposal: The Board approved a bonus issue of equity shares in the ratio of 1:1, meaning one new equity share of ₹10 each for every existing equity share of ₹10 each held by shareholders as on a record date to be determined later. This proposal is subject to approval by shareholders at an Extraordinary General Meeting.
3. EGM Notice Approval: The Board approved the draft notice for the 1st Extraordinary General Meeting for the financial year 2026-27 to seek shareholder approval for the increase in authorized share capital, amendment to the Capital Clause, and issuance of bonus shares.
Detailed Bonus Issue Disclosure (Annexure-I):
- Type of Security: Equity shares
- Type of Issuance: Bonus issue
- Total Securities to be Issued: 22,27,76,500 equity shares of ₹10 each (approximately)
- Source of Bonus: Securities Premium Account/Free Reserves available as of March 31, 2026
- Bonus Ratio: 1:1 (one new share for each existing share)
- Share Capital Details:
- Pre-bonus paid-up capital: ₹222,77,65,000 divided into 22,27,76,500 equity shares of ₹10 each
- Post-bonus paid-up capital: ₹445,55,30,000 divided into 44,55,53,000 equity shares of ₹10 each
- Reserves Required: ₹222,77,65,000 from Securities Premium/Free Reserves
- Reserves Available: ₹745,88,39,749 in free reserves/securities premium account as of March 31, 2026 (audited figures)
- Implementation Timeline: Bonus shares expected to be credited/dispatched within 2 months from the date of Board approval (November 02, 2026)
The document was digitally signed by Karishma Praful Shah, Company Secretary & Compliance Officer, on November 02, 2026 at 20:48:24 +05:30.