Key Decisions Approved

1. Increase in Authorized Share Capital: The Board approved increasing the authorized share capital of the Company from ₹15,00,00,000 (Rupees Fifteen Crore Only) to ₹17,63,48,000 (Rupees Seventeen Crore Sixty-Three Lakh Forty-Eight Thousand Only). This represents an increase of ₹2,63,48,000 (Rupees Two Crore Sixty-Three Lakh Forty-Eight Thousand Only). The purpose is to facilitate a proposed issue of equity shares for an aggregate amount of up to ₹3,00,00,000 (Rupees Three Crore Only), considering the existing paid-up share capital of ₹14,63,48,000 (Rupees Fourteen Crore Sixty-Three Lakh Forty-Eight Thousand Only). This change requires consequential alteration of the Capital Clause of the Memorandum of Association and is subject to shareholder approval.

2. Preferential Issue of Equity Warrants: The Board approved a proposal to raise funds through issuance of 3,00,00,000 (Three Crore) Equity Warrants with a face value of ₹1 each, aggregating up to ₹3,00,00,000 (Rupees Three Crore) on a preferential basis. The issue will be made to non-promoter/public category investors in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The issue price will be determined in accordance with SEBI ICDR Regulations and is subject to regulatory approvals and shareholder approval.

Meeting Details

The Board Meeting commenced at 9:40 PM and concluded at 10:30 PM on 29th October 2026.

Additional Requirements

The company will convene an Extraordinary General Meeting (EGM) to obtain shareholder approval for these matters. Any Director or Company Secretary is authorized to take necessary steps for convening the EGM.

Preferential Issue Details (Annexure A)

  • Type of Securities: Equity Warrants convertible into equity shares within 18 months from allotment date
  • Conversion Terms: Each warrant convertible into one equity share of face value ₹1 upon full payment
  • Total Warrants: 3,00,00,000 warrants aggregating ₹3,00,00,000
  • Number of Investors: 11 investors
  • Pricing: To be determined as per Chapter V of SEBI ICDR Regulations, 2018

Investor Details (Annexure B)

The preferential issue will be allocated to the following 11 investors:

1. Minaben Shah - 5,00,000 warrants

2. Priyam Surendra Shah - 5,00,000 warrants

3. Priyam Shah HUF - 5,00,000 warrants

4. Pooja Priyam Shah - 5,00,000 warrants

5. Shashank Vyas - 10,00,000 warrants

6. Monal Niranjanbhai Jain - 10,00,000 warrants

7. Ankit Jain - 20,00,000 warrants

8. Ramchandra Dallaram Choudhary - 25,00,000 warrants

9. Yogendrakumar Gupta - 5,00,000 warrants

10. Yogendrakumar Gupta (HUF) - 20,00,000 warrants

11. JV Investment (Partnership Firm - Partner Chunilal S Rathod) - 1,90,00,000 warrants

Financial Impact

The proposed fundraising of ₹3 crore through warrant issuance will increase the company's capital base. The exact financial impact on earnings per share and ownership pattern will depend on the final conversion of warrants into equity shares.