NEW MARKETS AVENUE LIMITED
Warrant Conversion and Equity Allotment
The Board of Directors, at its meeting held on Saturday, 04th July, 2026 (commencing at 01:00 P.M. and concluding at 01:30 P.M.), approved the conversion of 53,00,000 warrants into 53,00,000 equity shares of face value ₹10 each at par on a preferential allotment basis. The allotment was made to the following non-promoter public allottees who exercised their conversion rights:
- Mrs. Chhaya Gaurang Shah: Converted 10,00,000 warrants into 10,00,000 equity shares
- M/s. Mamta Securities Private Limited: Converted 10,00,000 warrants into 10,00,000 equity shares
- M/s. Spring Trade Mercantile Private Limited: Converted 5,00,000 warrants into 5,00,000 equity shares
- Mr. Prakash Bhoorchand Shah: Converted 18,00,000 warrants into 18,00,000 equity shares
- M/s. Plutus Capital Management LLP: Converted 10,00,000 warrants into 10,00,000 equity shares
Total Conversion: 53,00,000 warrants converted into 53,00,000 equity shares of ₹10 each.
Regulatory Approval
The company received in-principle approval from BSE Limited for this preferential allotment vide letter no. LOD/PREF/SV/FIP/3274/2022-23 dated 20th October, 2025.
Appointment of Secretarial Auditor
The Board approved the appointment of M/s. Ramesh Chandra Bagdi & Associates, Practicing Company Secretaries (Firm Registration No. S2021MP835800), as the Secretarial Auditor of the company for the Financial Year 2026-27. This appointment is made pursuant to Section 204 of the Companies Act, 2013 and Regulation 24A of SEBI (LODR) Regulations, 2015.
Term of Appointment: Financial Year 2026-27
Brief Profile: M/s. Ramesh Chandra Bagdi & Associates is described as a peer-reviewed firm with expertise in corporate laws, secretarial audit, corporate governance, SEBI compliances, FEMA compliances, due diligence, and other allied corporate advisory services.
Disclosure of Relationship: The annexure states "Not Applicable" regarding any relationship between directors and the appointed firm.