Board Meeting Details
- Meeting date: Tuesday, August 25, 2026
- Meeting time: Commenced at 12:00 PM and concluded at 07:00 PM
- Meeting venue: Registered office of the company
Key Board Approvals
1. Authorized Share Capital Increase
- Current authorized share capital: ₹25,00,00,000 divided into 2,50,00,000 equity shares of ₹10 each
- Proposed authorized share capital: ₹30,00,00,000 divided into 3,00,00,000 equity shares of ₹10 each
- Increase amount: ₹5,00,00,000 through creation of 50,00,000 new equity shares of ₹10 each
- Requires alteration of Clause V of Memorandum of Association
- Subject to approval of members at Extra-Ordinary General Meeting
2. Preferential Issue of Equity Shares
- Total shares: Up to 21,02,400 equity shares of face value ₹10 each
- Issue price: ₹180 per equity share
- Total amount: ₹37,84,32,000
- Allottee category: "Public" category investors
- Pricing basis: Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
- Subject to member approval
Allottee Details for Equity Shares:
- Claurus Capital 11: 10,00,000 shares
- Shalu Aggarwal: 2,16,000 shares
- Abhaikumar Amolakchand Nahar: 1,68,000 shares
- Sandeep Singh: 1,68,000 shares
- Finavenue Growth Fund: 1,12,000 shares
- Prafull Rai: 84,000 shares
- Sajal Family Trust: 54,000 shares
- Swati G Lodha: 42,400 shares
- Rajesh Jagdish Rai Jain: 78,000 shares
- Madhav Grover: 30,000 shares
- Bhanuben Bharatbhai Patel: 30,000 shares
- Rajkumar Punamchand Golecha: 38,400 shares
- Yashkumar Poonamchand Golechha: 38,400 shares
- H&A Ventures: 14,400 shares
- Ayushi Rathore: 14,400 shares
- Deepak Kumar Dua: 14,400 shares
3. Preferential Issue of Fully Convertible Warrants
- Total warrants: Up to 44,16,000 fully convertible warrants
- Conversion terms: Each warrant convertible into one equity share of ₹10 face value
- Issue price: ₹180 per warrant
- Total amount: ₹79,48,80,000
- Allottee categories: "Promoter and Promoter Group" and "Public" categories
- Conversion period: Within maximum 18 months from date of allotment
- Pricing basis: Chapter V of SEBI ICDR Regulations, 2018
- Subject to member approval
Allottee Details for Warrants:
- Ritesh Sharma (Promoter): 16,00,000 warrants
- Devi Traders LLP: 6,40,000 warrants
- Shreya Dua: 6,35,600 warrants
- Yashpal Garg: 2,60,800 warrants
- Anshvardhan Modi: 2,00,000 warrants
- Rachita Gupta: 2,00,000 warrants
- Annso Capital Private Limited: 96,000 warrants
- Vidhi Parekh: 80,000 warrants
- Sangita Jain: 80,000 warrants
- Bhagchand Punamchand Bafna: 76,800 warrants
- Sonali Swanand Phand: 68,800 warrants
- Anita Agarwal: 54,000 warrants
- Pallavi Goyal: 48,000 warrants
- Vikashh Mehta: 40,000 warrants
- Vijay Ramvallabh Khetan: 40,000 warrants
- Bhavya Lodha: 40,000 warrants
- Aman Pokharna: 32,000 warrants
- Ritik Narpatkumar Chopra: 24,000 warrants
- Rajat Bhargava: 24,000 warrants
- Vipin Arora: 24,000 warrants
- Biyani Chanchal: 24,000 warrants
- Meghana Divyagnan Sarvaiya: 24,000 warrants
- Deepa Jain: 24,000 warrants
- Ritik Modi: 22,400 warrants
- Manshaa Insights Private Limited: 12,800 warrants
- Attune Wealth Private Limited: 12,800 warrants
- Anjana Mehta: 6,400 warrants
- Lehar Sancheti: 6,400 warrants
- Manan Patodia: 6,400 warrants
- Arihant Modi: 6,400 warrants
- Siddharth Modi: 6,400 warrants
4. Committee Formation
- Constituted Preferential Issue Committee of the Board
- Purpose: To take all necessary actions and finalize/approve relevant documents for the preferential issue
5. Extra-Ordinary General Meeting
- Approved draft notice for EGM
- EGM scheduled: Thursday, September 17, 2026
- Purpose: To obtain member approval for the preferential issue
Financial Impact
- Total equity issuance: ₹37,84,32,000 (21,02,400 shares at ₹180 each)
- Total warrant issuance: ₹79,48,80,000 (44,16,000 warrants at ₹180 each)
- Potential total fundraising: ₹117,33,12,000
- Capital structure impact: Increase in authorized share capital by ₹5 crore, potential equity dilution upon conversion of warrants