Magson Retail And Distribution Limited — Others, 21-01-2025: Appointment

Magson Retail and Distribution Limited's Board has approved a substantial increase in its authorised share capital from ₹11 Cr to ₹25 Cr, pending shareholder approval. The Board also adopted a new Articles of Association to align with regulatory requirements. Mr. Robert Gomes will join as a Non-Executive Independent Director for five years, bringing 28 years of industry experience. Additionally, M/s. H D Panchal & Co. has been appointed as the internal auditor for FY 2025. The company is acquiring Farmags Associates LLP and Food Book Associates LLP for ₹72.5 Lakh combined, enhancing its market position. Furthermore, plans to raise up to ₹100 Cr through convertible securities are underway, which may lead to a positive outlook for future growth.