Kapil Raj Finance to acquire Henyo, approves ₹2.24 preferential issue

Kapil Raj Finance Limited's Board of Directors approved the acquisition of 90% share capital of Henyo Pack Limited. This acquisition will be executed through a share swap, involving the issuance of 26,54,87,700 fully paid-up equity shares at ₹2.24 each on a preferential basis to Henyo's shareholders. Additionally, the Board approved a separate preferential issue of 66,98,000 equity shares for cash to non-promoters. Other significant approvals include the adoption of a new Memorandum of Association (MOA), an increase in authorized share capital, alteration of the MOA's object clause, and a change in the company's name. The Board also noted the resignation of a Whole-time Director and Secretarial Auditors, and recommended new auditor appointments. All share-related and MOA changes are subject to shareholder approval.