Ishaan Infra Appoints New Auditors, Approves Share Capital Increase
Ishaan Infrastructures and Shelters Ltd announced a significant board meeting where several key decisions were made. The company approved the appointment of M/s Grover Lalla & Mehta as the new statutory auditors for a five-year term, replacing M/s Prakash Tekwani & Associates. Additionally, the board greenlit an increase in authorized share capital from ₹7.5 crore to ₹64 crore, subject to shareholder and SEBI approval. The company also approved the acquisition of 100% of Blisstering Electronics Private Limited and Bliss Cab Electronics Private Limited through a share swap agreement, involving the issuance of up to 5.67 crore equity shares at ₹14 per share. The board also noted the resignations of two independent directors and the company's secretarial auditor.
Key Highlights
- New statutory auditors appointed for five years.
- Authorized share capital to increase from ₹7.5 Cr to ₹64 Cr.
- Acquisition of Blisstering Electronics and Bliss Cab Electronics approved.
- Preferential issue of equity shares for acquisition finalized.
- Two independent directors resigned from the board.
Price Impact
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