Quarterly Result19 Feb 2026, 09:22 pm
Mac Hotels Ltd. Announces Board Meeting Decisions: Capital Increase, Preferential Issue of Equity Shares & Warrants, and EGM
AI Summary
Mac Hotels Ltd. announced the outcomes of its board meeting held on February 19, 2026. The board approved several proposals, including an increase in the authorized share capital, a preferential issue of equity shares and warrants, and the convening of an Extraordinary General Meeting (EGM) to seek shareholder approval. The company will also provisionally approve the acquisition of approximately 25% share capital of Herald Technocraft Private Limited and modify its main object, subject to necessary approvals.
Key Highlights
- Approval of an increase in the authorized share capital from Rs. 9,00,00,000 to Rs. 18,00,00,000 divided into 1,80,00,000 Equity Shares of Rs. 10/- each.
- Preferential issue of up to 48,00,500 Equity Shares at a price of Rs. 45 per share, and up to 73,68,712 convertible warrants to identified promoters, members of promoter group, and non-promoter persons/entities.
- Convening of an Extraordinary General Meeting (EGM) on March 21, 2026, to seek necessary approval from shareholders.
- Provisional approval for the acquisition of approximately 25% share capital of Herald Technocraft Private Limited.
- Change in the main object of the company by adding various manufacturing, buying, selling, and trading activities in different industries.