Advance Multitech Board Approves MOA/AOA Amendments, Capital Increase
Advance Multitech Ltd's Board of Directors met on September 1, 2026, approving significant amendments to the company's Memorandum and Articles of Association (MOA/AOA) as per the Companies Act, 2013. Key decisions include a substantial increase in authorized share capital from ₹5 Crore to ₹45 Crore, subject to shareholder approval. The board also approved the issuance of up to 4 Crore warrants convertible into equity shares on a preferential basis. Furthermore, borrowing limits were increased to ₹100 Crore, with approval to borrow up to ₹50 Crore from directors. The appointment of M/s. Rajesh J Shah & Associates as Statutory Auditors for five years and M/s. Shailesh Bharwad & Associates as Internal Auditors for FY27 were also approved, pending shareholder consent. The appointment of Mr. Rahul Patel as Additional Director, designated as Managing Director & Chairman, was also noted.
Key Highlights
- Authorized share capital increased from ₹5 Cr to ₹45 Cr.
- Board approved preferential issuance of convertible warrants.
- Borrowing limits increased to ₹100 Cr.
- New Statutory and Internal Auditors appointed.
- Amendments to MOA/AOA require shareholder approval.
Price Impact
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