Gretex Industries Limited — Important, 06-02-2025: Updates

Gretex Industries Limited plans to hold an Extraordinary General Meeting (EGM) to seek shareholder approval for issuing up to 9,11,010 equity shares at ₹236 each, totaling approximately ₹21.50 crore, and up to 13,64,410 fully convertible warrants at the same price, aggregating around ₹32.20 crore. The funds will primarily support fixed asset purchases, loan repayment, and working capital needs. Key proposed allottees include both non-promoter and promoter groups, with Gretex Corporate Services receiving the largest share of warrants.

Additionally, the company is proposing to appoint M/s. V. Singhi and Associates as joint statutory auditors for a five-year term starting from April 1, 2025, enhancing its audit capabilities and compliance posture. The Board believes these actions are in the company's best interest and recommends shareholder approval for the proposals. The decision is expected to bolster Gretex's financial positioning and operations moving forward.

Investors should stay tuned for the outcomes of the EGM as these developments could significantly impact the company’s future trajectory.