Sharat Industries Ltd — Important, 02-09-2025: Company Update

Sharat Industries' Board decided to defer plans for preferential issuance of equity, warrants, and a share swap for Katyayini Aquatech, citing a need for further evaluation and strategic alignment. The board approved increasing the authorized share capital from 50 Cr to 60 Cr, subject to shareholder approval, providing future funding flexibility. Key re-appointments include Mr. Harihar Venkata Muthyam as an Independent Director, Mr. Prasad Reddy Sabbella as Managing Director, and Mr. Sharat Reddy Sabbella as Whole-Time Director for five-year terms, pending shareholder approval. Additionally, 2,41,174 partly paid shares were forfeited due to non-payment of call money. The company will hold its Annual General Meeting to seek these approvals and address a final dividend.