The meeting commenced at 5:00 PM and concluded at 7:07 PM at the company's registered office at 15th Floor, Camex House, Stadium-Commerce Road, Navrangpura, Ahmedabad-380009, Gujarat.
Key Board Approvals:
1. Rights Issue Approval: The board approved the issuance of equity shares through a rights issue to raise up to ₹31.50 Crores (Rupees Thirty-One Crore and Fifty Lakh). The issuance will be offered to eligible equity shareholders of the company as on a record date that is yet to be determined and notified.
2. Appointment of Intermediaries: The board approved the appointment of various intermediaries for the aforementioned rights issue.
3. Rights Issue Committee Formation: The board constituted a Rights Issue Committee with the following members:
- Mr. Manojumar Choukhany (Chairman)
- Mr. Manish Agrawal (Member)
- Ms. Khushbu Bharakatya (Member)
Committee Responsibilities:
The Rights Issue Committee is authorized to decide on all terms and conditions of the rights issue, including but not limited to:
- Determining the record date
- Setting the rights issue price
- Establishing the rights entitlement ratio
- Deciding the timing and terms of payment
- Finalizing the appointment of intermediaries
- Handling other related matters