Preferential Issue of Warrants
The Board approved the preferential issue of 5,00,000 (Five Lakh) equity convertible warrants to promoter Mohammad Quaim Syed at a price of ₹479 per warrant (including premium of ₹469 per warrant). The total issue size aggregates to ₹23,95,00,000 (Rupees Twenty-Three Crore Ninety-Five Lakhs Only).
Key Terms:
- Conversion period: Within 18 months from date of allotment
- Pricing determined in accordance with Chapter V of SEBI (ICDR) Regulations, 2018
- Subject to shareholder approval at ensuing Extraordinary General Meeting
- Subject to other statutory and regulatory approvals where necessary
Auditor Appointment
The Board approved the appointment of M/s Bilimoria Mehta & Co. (FRN: 101490W) as statutory auditors to fill the casual vacancy arising from the resignation of M/s Piyush Kothari & Associates (FRN: 140711W). The appointment is for a 5-year term from financial year 2026-2027 to 2030-2031, subject to shareholder approval at the EOGM.
Auditor Profile: Bilimoria Mehta & Co. is a Chartered Accountants firm established in 1977 with offices in Mumbai, Delhi, and Bangalore. The firm provides comprehensive assurance services including statutory audits, internal audits, IPO and pre-IPO assurance services, due diligence, and risk advisory. They have extensive experience serving listed companies, multinational corporations, and diverse industries including media & entertainment.
Extraordinary General Meeting Arrangements
The Board approved:
- Day, date, time, and venue for the Extraordinary General Meeting
- Notice of EOGM
- Appointment of M/s Pratik Bangade & Associates as scrutinizer for e-voting and poll process
- Authorization to Managing Director, Executive Director, or Company Secretary to send EOGM notice and manage the poll process
- Authorization to Managing Director, Directors, or Company Secretary to sign applications and file documentation with authorities and stock exchanges for the preferential issue