Key Decisions and Approvals
1. Fundraising via Loans with Conversion Option
The Board approved a proposal to raise funds aggregating up to ₹50 Crores (Rupees Fifty Crores only) by way of secured and/or unsecured loans. These loans may include an option to convert them, including any outstanding loans, into convertible securities of the Company. The fundraising may be executed in one or more tranches. This proposal is subject to approval by shareholders via a Special Resolution and receipt of other necessary statutory and regulatory approvals.
2. Preferential Issue of Convertible Warrants to Promoters
The Board approved the issuance and allotment of 1,00,00,000 (One Crore) convertible warrants to the Promoter(s) on a preferential basis. The issue price is fixed at ₹18.51 per warrant. The total consideration for this issuance is ₹18.51 Crores (Rupees Eighteen Crores Fifteen Lakhs only). The consideration may be received in cash and/or via the conversion of unsecured loans from the Promoter(s). The Relevant Date for determining the issue price is August 11, 2026. This preferential issue is subject to shareholder approval by a Special Resolution and other requisite statutory and regulatory approvals.
3. Approval of AGM Notice and Logistics
The Board approved the draft Notice for convening the 2026 Annual General Meeting (AGM). The AGM is scheduled to be held on Thursday, September 10, 2026. The cut-off date for determining member eligibility to vote via remote e-voting has been fixed as September 3, 2026. The Board authorized the Directors and/or Company Secretary to finalize and issue the AGM notice, appoint a Scrutinizer, and undertake all necessary activities for conducting the remote e-voting and the AGM itself.
Meeting Details
The Board meeting commenced at 4:30 PM and concluded at 6:10 PM on August 11, 2026.