StockWatch
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Animal Feed
Board Meeting29 Jun 2026, 11:49 am

Narmada Agrobase Board Approves Rights Issue Fund Use Variation

AI Summary

Narmada Agrobase Ltd's Board of Directors met on June 29, 2026, to approve a variation in the object of the Rights Issue. This involves modifying the utilization of funds from the equity share issuance, as initially stated in the Letter of Offer dated September 17, 2024. The approval is subject to shareholder and other necessary regulatory approvals. Additionally, the board appointed Mr. Punit Santoshkumar Lath as the Scrutinizer to oversee the postal ballot and e-voting process for this resolution, ensuring fairness and transparency.

Key Highlights

  • Board approved variation in Rights Issue fund utilization.
  • Modification subject to shareholder and regulatory approvals.
  • Postal ballot via remote e-voting to seek member approval.
  • Scrutinizer appointed for e-voting process.
  • Meeting held on June 29, 2026.