Meeting Details
Date: Saturday, October 10, 2026
Time: Commenced at 11:45 AM, concluded at 1:00 PM
Location: Registered Office of the Company
Key Decisions Approved
1. Loan Conversion and Equity Issuance
The Board approved the conversion of an outstanding loan of ₹7,20,00,000 (Rupees Seven Crore Twenty Lakh Only) availed from Optimus Finance Limited (Promoter) into equity shares.
Conversion Details:
- Number of shares: 48,00,000 fully paid-up equity shares
- Face value: Re. 1/- per share
- Conversion price: ₹15 per equity share
- Total conversion value: ₹7,20,00,000 (matching loan amount)
Legal Basis:
- Conversion exercised in accordance with terms of the Loan Agreement
- Special Resolution passed by Members at the 10th Annual General Meeting
- Pursuant to Section 62(3) of the Companies Act, 2013
- Subject to statutory and regulatory approvals where necessary
Next Steps:
The Board authorized making an application to BSE Limited for obtaining in-principle approval for the proposed issue/allotment of equity shares and to undertake all necessary actions in connection with the conversion.
2. Production Facility Expansion
The Board considered and approved a proposal to set up production facilities domestically for export purposes.
Implementation Authority:
- The Managing Director or CFO is authorized to execute an "Agreement to Purchase" industrial land
- Location: Nearby city of Vadodara
- The detailed Project Report is currently being prepared
- Management authorized to initiate all necessary actions related to the land purchase
Disclosure and Compliance
Filed with BSE Limited on October 10, 2026, by Sonali Panchal, Company Secretary & Compliance Officer, through digital signature.