Board Meeting1 Oct 2026, 02:29 pm
Amalgamated Electricity Approves Object Clause Change & Preferential Issue
AI Summary
Amalgamated Electricity Company Ltd's Board of Directors met on October 01, 2026, approving a change to the company's object clause, which includes acquiring electricity licenses and undertakings from other companies and expanding power generation and distribution. The board also approved a preferential issuance of up to 130,00,00,000 equity shares at ₹5 each, aggregating up to ₹650,00,00,000 (₹650 Crore), to identified non-promoter investors. Additionally, the resignation of CFO Mr. Mangesh Narayan Shirodkar was accepted, and a postal ballot process was approved for October 31, 2026, with Ms. Anushree Keshav appointed as Scrutinizer.
Key Highlights
- Board approved alteration of Memorandum of Association object clause.
- Approved preferential issuance of equity shares worth ₹650 Crore.
- Accepted resignation of CFO Mr. Mangesh Narayan Shirodkar.
- Approved postal ballot process for shareholder approval.
- Appointed Ms. Anushree Keshav as Scrutinizer for postal ballot.
Price Impact
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