Magson Retail And Distribution Limited — Board Meeting, 21-01-2025: Outcome of Board Meeting

Magson Retail and Distribution Limited's Board has approved several key initiatives during their recent meeting. They plan to increase authorized share capital to ₹25.00 crore, amend the Articles of Association, and appoint Mr. Robert Gomes as an Additional Independent Director for five years. The Board also appointed M/s. H D Panchal & Co. as the Internal Auditor for FY 2025. Notably, they approved the acquisition of Farmags Associates LLP and Food Book Associates LLP for ₹4.75 crore and ₹2.50 crore, respectively. Additionally, they intend to raise up to ₹100 crore through the issuance of convertible equity warrants.