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Allotment of 77,100 equity shares under the Chemfab Alkalis Employees Stock Option Scheme (CAESOS 2020) has been approved, bringing the total issued shares to 1,43,63,702 and total issued share capital to Rs. 14,36,37,020.
Additionally, the Board has approved the incorporation of a wholly-owned subsidiary, Chemfab Hiitech Piping Limited, with an authorized capital of Rs. 5,00,000. Though it is yet to commence operations, the company aims to engage in the manufacturing of OPVC pipes and related activities.
In a significant organizational change, the Company Secretary & Compliance Officer, Mr. B Vignesh Ram, submitted his resignation to explore new career opportunities, which the Board has accepted. This leadership transition may present a short-term impact on governance but opens potential for fresh perspectives in compliance leadership. Investors should watch closely for updates on the outgoing officer's successor and any strategic implications this may have on operations.