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The company is initiating a postal ballot process to seek shareholder approval for two significant resolutions. Firstly, it aims to increase its Authorized Share Capital from ₹30 crores to ₹44 crores to accommodate future growth initiatives. This is a strategic move to ensure that the company can effectively manage capital requirements and financial health in line with its operational goals.
Secondly, the board plans to conduct a Qualified Institutional Placement (QIP) to raise up to ₹160 crores. This initiative is expected to bolster the company’s financial position, potentially allowing it to retire high-cost debt and finance working capital needs and capital expenditures essential for scaling operations. Shareholders are encouraged to participate in the electronic voting process starting January 24, 2025, and concluding on February 22, 2025, as these resolutions could influence the company’s growth trajectory in the coming years. Investors should closely monitor the outcome.