Shivam Autotech Limited — Board Meeting, 22-01-2025: Outcome of Board Meeting

The board meeting of Shivam Autotech Limited resulted in several key decisions. The board approved an increase in authorized share capital from ₹30 Cr to ₹44 Cr and proposed fund-raising initiatives: a Qualified Institutional Placement (QIP) to raise up to ₹160 Cr and a Rights Issue not exceeding ₹125 Cr. A Fund Raising Committee was constituted to oversee these initiatives. Additionally, the board plans to seek shareholder approval via postal ballot for the proposed changes and share issuances. The meeting highlighted strategic steps for expanding the company’s capital base.