Classic Filaments Board Approves Director Appointments, Preferential Issue

The Board of Directors of Classic Filaments Limited approved several key decisions in its meeting on May 15, 2026. These include the appointment and regularization of directors, subject to member approval. A preferential issue of 47,17,740 equity shares to non-promoter, public category investors was approved at a price of ₹51.50 per share. The board also approved increasing the authorized share capital, altering the object clause of the Memorandum of Association, and increasing borrowing limits up to ₹100 crores, all subject to member approval. Furthermore, the board approved the acquisition of Procasts Engineering Private Limited and Solven Power Systems Private Limited, the opening of a new division in the Information Technologies sector, and the convening of an Extra Ordinary General Meeting.