Board Meeting1 Oct 2026, 06:50 pm
Grand Foundry Ltd Approves Preferential Issue & Acquisition
AI Summary
Grand Foundry Ltd's Board of Directors has approved a preferential issue of up to 1,04,00,000 equity shares at ₹10 each, aggregating to ₹10.40 Crore, and up to 8,84,50,000 convertible warrants at ₹10 each, aggregating to ₹88.45 Crore. Additionally, the company plans to acquire 90.82% of Fusionnet Web Services Limited (FWSL) from SAR Televenture Limited for ₹256.84 Crore, to be discharged through the issuance of 3.20% Redeemable Cumulative Non-Convertible Preference Shares (RNCPS). An Extra-Ordinary General Meeting (EGM) is scheduled for October 28, 2026, to seek shareholder approval for these proposals. The cut-off date for remote e-voting eligibility is set for October 21, 2026.
Key Highlights
- Board approves preferential issue of equity shares and warrants.
- Company to acquire Fusionnet Web Services Ltd for ₹256.84 Crore.
- Acquisition consideration to be paid via RNCPS issuance.
- EGM scheduled for October 28, 2026, for shareholder approval.
- Cut-off date for e-voting set as October 21, 2026.
Price Impact
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