Clarification9 Oct 2026, 11:23 am
Amalgamated Electricity Revises Board Meeting Outcome
AI Summary
Amalgamated Electricity Company Ltd has submitted a revised outcome of its Board Meeting held on October 01, 2026. The revision corrects an inadvertent mention of Regulation 170(2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, related to a proposed preferential issue. The board also approved changes to the company's object clause, a preferential issue of up to 1,300,000,000 equity shares at ₹5 each for ₹650,000,000,000, the resignation of CFO Mr. Mangesh Narayan Shirodkar, and the draft notice for a postal ballot.
Key Highlights
- Revised board meeting outcome submitted due to an inadvertent regulatory reference.
- Approved alteration of the company's Memorandum of Association (MOA) object clause.
- Approved preferential issue of 1,300,000,000 equity shares at ₹5 each.
- Total issue size for preferential allotment is ₹650,000,000,000.
- Approved resignation of CFO and initiated postal ballot process.
Price Impact
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