Board Meeting Details

The meeting commenced at 01:00 PM IST and concluded at 02:15 PM IST on September 11, 2026.

Key Decisions Approved

1. Increase in Authorized Share Capital

The Board approved increasing the Authorized Share Capital of the Company from ₹1,65,00,00,000 (Indian Rupees One Hundred Sixty-Five Crore) divided into 16,50,00,000 (Sixteen Crore Fifty Lakhs) Equity Shares of ₹10 each to ₹1,75,00,00,000 (Indian Rupees One Hundred Seventy Five Crore Only) divided into 17,50,00,000 (Seventeen Crore Fifty Lakh only) Equity Shares of ₹10 each.

This represents an increase of ₹10 crore in authorized capital and 1,00,00,000 additional equity shares.

The approval is subject to shareholder approval through postal ballot. Consequent amendment required in Capital Clause (Clause V) of Memorandum of Association of the Company.

2. Fundraising Approval

The Board approved raising funds through all permitted instruments for an amount not exceeding USD 50 Million or its equivalent in Indian Rupees or other foreign currencies.

Fundraising instruments include:

  • Foreign currency convertible bonds (FCCB)
  • External Commercial Borrowings (ECB)
  • Convertible bonds
  • Debentures
  • Warrants
  • Any other equity linked securities
  • Any other securities including through preferential issue on private placement basis
  • Share swap or any other methods or combinations thereof
  • Listed or unlisted securities

Key terms:

  • Can be raised in one or more tranches
  • Inclusive of such premium as may be fixed
  • At such time or times as deemed appropriate by the Board
  • In such manner and on such terms and conditions including security, rate of interest, discount (as permitted under applicable law)
  • Subject to Board's absolute discretion
  • Subject to shareholder and regulatory/statutory approvals

3. Postal Ballot Approval

The Board approved conducting a Postal Ballot (including e-voting) for shareholder approvals. Details will be communicated to the Stock Exchange and shareholders in due course.

Regulatory Compliance Notes

  • Disclosures under Regulation 30 of Listing Regulations read with SEBI Circular are not applicable to the fundraising matter as no securities are being issued immediately
  • The company referenced SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Insider Trading Implications

In terms of the Company's Code for Prevention of Insider Trading and SEBI (Prohibition of Insider Trading) Regulations, 2015, the window for trading in Securities of the Company by its designated persons and their immediate relatives shall open after 48 hours from this outcome (i.e., after September 13, 2026).

Memorandum of Association Amendments

The annexure provides detailed comparison of the Capital Clause amendments:

Existing Clause: Authorized Share Capital of ₹1,65,00,00,000 divided into 16,50,00,000 equity shares of ₹10 each

Proposed Amended Clause: Authorized Share Capital of ₹1,75,00,00,000 divided into 17,50,00,000 equity shares of ₹10 each

The rights, privileges, conditions, and powers regarding capital management remain unchanged otherwise.