Board Meeting15 May 2026, 08:41 pm
Classic Filaments: Preferential Issue of 47.17 Lakh Shares Approved
AI Summary
The Board of Directors of Classic Filaments Ltd approved the issue of 47,17,740 equity shares on a preferential basis to non-promoter, public category individuals, subject to member approval. The board also approved the regularization of several directors, adoption of constitutional documents, increase in authorized share capital and borrowing limits up to ₹100 crores, alteration of the object clause of MOA, acquisition of Procasts Engineering and Solven Power Systems, and opening a new IT division. An Extra Ordinary General Meeting will be convened.
Key Highlights
- Classic Filaments to issue 47,17,740 equity shares on preferential basis at ₹51.50 per share.
- Board approved regularization of directors including Vikkas Bansal as Chairman and Managing Director.
- Company to increase borrowing limits up to ₹100 crores, subject to member approval.
- Classic Filaments to acquire Procasts Engineering and Solven Power Systems.
- A new division in Information Technologies sector will be opened for future growth.
Price Impact
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