Shree Tirupati Balajee FIBC Limited — Board Meeting, 27-12-2024: Outcome of Board Meeting

The Board of Shree Tirupati Balajee FIBC Ltd. has approved a fundraising proposal through the issuance of equity shares amounting to Rs. 49 Cr on a rights basis. A dedicated 'Rights Issue Committee' has been constituted to oversee the process. The Board also agreed to increase the authorized capital from Rs. 11 Cr to Rs. 44 Cr, along with necessary changes to the Memorandum of Association, pending shareholder approval at the upcoming Extraordinary General Meeting (EGM). Additionally, the Board has permitted a significant increase in borrowing limits to Rs. 600 Cr, subject to shareholder consent. An EGM is scheduled for January 30, 2025, to discuss these matters.