Madhav Infra Projects Approves Share Conversion & Preferential Allotment

Madhav Infra Projects Ltd held a Board Meeting on October 13, 2026, where they approved the variation of rights/terms of existing 3,79,00,000, 1% Non-Cumulative Non-Convertible Redeemable Preference Shares into 4,65,03,067, 1% Non-Cumulative Compulsorily Convertible Preference Shares. These are convertible into equity shares at ₹8.15 per share, subject to shareholder approval. The board also approved the issue of up to 4,19,01,840 equity shares at ₹8.15 per share on a preferential basis to the promoter group, converting outstanding unsecured loans. Additionally, the draft Notice of Postal Ballot was approved, along with the appointment of a scrutinizer for e-voting.