Board Meeting4 Jun 2026, 05:11 pm
Kanel Industries to Raise Funds via QIP
AI Summary
Kanel Industries Ltd announced its Board of Directors has approved a Qualified Institutional Placement (QIP) to raise funds by issuing up to 42,50,000 equity shares. The face value of each share is ₹10. The company will also seek shareholder approval via postal ballot and e-voting for this issuance. M/s. Malay Desai & Associates has been appointed as the scrutinizer for the e-voting process. The Board also considered other agenda items.
Key Highlights
- Board approves Qualified Institutional Placement (QIP).
- Up to 42,50,000 equity shares to be issued.
- Shareholder approval to be sought via postal ballot and e-voting.
- Appointment of scrutinizer for e-voting process approved.
Price Impact
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