Nitco Limited — Board Meeting, 22-10-2024: Outcome of Board Meeting

NITCO Limited’s Board approved several key actions, including increasing authorized share capital to ₹500 crores and issuing 4.44 crore equity shares and 2.34 crore convertible warrants on a preferential basis. The company plans to issue an additional 11.25 crore equity shares for part debt conversion to Authum Investment. Furthermore, NITCO intends to purchase assets worth up to ₹300 crores from related parties and will hold an Extraordinary General Meeting on November 15, 2024, for shareholder approvals.