Wherrelz IT Solutions seeks shareholder approval to increase authorized share capital from ₹50 lakh to ₹48 crore via an EGM on May 18, 2026.
The company proposes to issue 4.67 crore equity shares at ₹10 each to convert ₹46.77 crore of unsecured loans from seven non-promoter corporate entities.
The loan proceeds were utilized for land acquisition, a fertilizer business investment, and working capital requirements up to March 2025.
Post-issuance, promoter holding will dilute significantly from 20.53% to 0.17%, with no change in company control.