Batliboi Ltd Appoints Independent Director, Approves Preferential Issue

Batliboi Ltd announced the appointment of Mr. Shankaran Rajaram Vignesh as an Additional Non-Executive Independent Director for a term of five years. The Board also approved a preferential issue of up to 13,21,585 equity shares at ₹113.50 per share to convert an unsecured loan of ₹15 Crore from Promoter and Chairman Mr. Nirmal Bhogilal. Additionally, the company approved varying the terms of 6,92,480 preference shares held by Mr. Bhogilal to make them compulsorily convertible into equity shares on demand, followed by a preferential issue of up to 6,10,114 equity shares for consideration other than cash upon conversion. These issuances are subject to shareholder and regulatory approvals.