Amalgamated Electricity Appoints 2 Directors, Plans ₹650 Cr Preferential Issue

Amalgamated Electricity Company Ltd announced key board decisions on July 13, 2026. The company approved an increase in authorized share capital from ₹2.25 crore to ₹2000 crore and an alteration of its Memorandum and Articles of Association. A significant move includes the approval of a preferential issue of up to 130 crore equity shares at ₹5 each, aggregating ₹650 crore, to identified non-promoter investors. The board also approved the appointment of Somesh Yag Ratanchand Kapai as Additional Director and Jay Nareshbhai Tillani as Additional Non-Executive Independent Director. Additionally, the company resolved to change its registered office from Mumbai to Delhi and will conduct a postal ballot process for shareholder approval.