Nature of Event

Regulatory disclosure of 33rd Annual General Meeting notice, annual report, and financial statements for FY 2025-26.

Key Quantitative Figures

  • Current Authorized Share Capital: ₹10,00,00,000 divided into 80,00,000 equity shares of ₹10 each (₹8 crore) and 2,00,000 preference shares of ₹100 each (₹2 crore)
  • Proposed Increased Authorized Share Capital: ₹22,00,00,000 divided into 2,00,00,000 equity shares of ₹10 each (₹20 crore) and 2,00,000 preference shares of ₹100 each (₹2 crore)
  • Current Paid-up Equity Capital: ₹3,51,22,500 (35,12,250 equity shares of ₹10 each)
  • Preferential Equity Issue: Up to 34,00,000 equity shares of ₹10 each at ₹10 per share, aggregating ₹3,40,00,000
  • Convertible Warrants Issue: Up to 1,15,87,750 warrants convertible into equity shares at ₹10 per warrant, aggregating ₹11,58,77,500
  • FY26 Financial Performance: Revenue from operations ₹10,25,000; Profit before tax ₹1,16,621.53; Profit after tax ₹1,16,621.53; EPS ₹0.03
  • FY25 Financial Performance: Revenue from operations ₹3,35,43,648; Loss before tax ₹(3,70,023.92); Loss after tax ₹(3,70,023.92); EPS ₹(0.105)
  • Valuation: Fair value per equity share determined at ₹9.14 by registered valuer Mr. Subodh Kumar (IBBI/RV/05/2019/11705)

Dates of Action

  • AGM Date: September 10, 2026 at 1:00 PM through video conferencing
  • Book Closure: September 4, 2026 to September 10, 2026
  • E-voting Period: September 7, 2026 (9:00 AM) to September 9, 2026 (5:00 PM)
  • Cut-off Date for E-voting: September 3, 2026
  • Board Meeting Dates: 9 meetings held during FY26 on April 8, April 11, May 23, July 30, August 6, August 27, September 1, November 6, 2025 and February 5, 2026

Parties Involved

  • Board of Directors: Ms. Somali Trivedi (Chairperson & Independent), Mr. Mohit Sharma (Whole Time Director), Mr. Ankit Tayal (Non-Executive), Ms. Jagriti Ojha (Independent), Mr. Neeraj Chaudhary (Additional Director)
  • Key Managerial Personnel: Mr. Mohit Sharma (Whole Time Director & CFO), Ms. Priyanka Ram (Company Secretary & Compliance Officer)
  • Statutory Auditor: M/s. VSSA & Associates, Chartered Accountants
  • Secretarial Auditor: M/s. Jain P & Associates, Practicing Company Secretaries
  • RTA: Skyline Financial Services Private Limited
  • Preferential Allottees: 16 public non-promoter allottees for equity shares; Promoters and public allottees for warrants

Purpose/Rationale

The capital raising initiatives are for "working capital purpose" and to "strengthen its capital base, augment long-term financial resources, meet working capital requirements and support future business expansion and general corporate purposes."

Financial Impact

  • Equity Issue Impact: Will increase paid-up capital by ₹3.40 crore if fully subscribed
  • Warrants Issue Impact: Will increase paid-up capital by ₹11.59 crore if fully converted
  • Post-issue Shareholding: Promoter holding expected to increase from 56.65% to 61.43% after full conversion of warrants
  • Capital Structure Change: Authorized capital will increase by ₹12 crore if resolution approved

Capital Structure Impact

  • Pre-issue Equity: 35,12,250 shares
  • Post-preferential Equity: 69,12,250 shares (including 34,00,000 new shares)
  • Post-warrant Conversion: 1,85,00,000 shares (including 1,15,87,750 new shares from warrants)
  • Dilution: Significant dilution expected if all proposals are implemented

Corporate Governance

  • Compliance certificate on corporate governance obtained from practicing company secretary
  • CEO/CFO certification provided
  • All applicable policies (whistleblower, vigil mechanism, etc.) in place
  • No fraud reported during the year
  • No material related party transactions

Voting Information

  • Remote e-voting through NSDL
  • Cut-off date: September 3, 2026
  • Facility for e-voting during AGM also available
  • Scrutinizer: Ms. Preeti Mittal of M/s. Jain P & Associates

Other Disclosures

  • Company changed name from Rahul Merchandising Limited to Tacent Projects Limited
  • Net worth is negative but company continues as going concern
  • No dividend declared for FY26
  • No deposits accepted during the year
  • No subsidiary companies
  • No revision of financial statements
  • No material orders passed by regulators/courts
  • No application under Insolvency and Bankruptcy Code