Om Metallogic Ltd to Increase Authorised Share Capital by 83%
Om Metallogic Limited announced that its Board of Directors has approved a proposal to increase the company's authorised share capital from ₹8.75 crore to ₹16 crore. This significant increase, representing an 83% rise, will be achieved by issuing an additional 72.5 lakh equity shares of ₹10 each, ranking pari passu with existing shares. The approval is subject to shareholder consent and other necessary statutory and regulatory clearances. Consequently, a postal ballot notice will be issued to seek shareholder approval for this capital expansion and the related amendment to the Memorandum of Association. The board also appointed Ayush D Gupta & Associates as the scrutinizer for the e-voting process at the upcoming Extraordinary General Meeting.
Key Highlights
- Board approves increase in authorised share capital to ₹16 crore.
- Authorised capital to rise from ₹8.75 crore, an 83% increase.
- Shareholder approval required via postal ballot.
- Memorandum of Association clause to be amended.
- Scrutinizer appointed for e-voting at EGM.
Price Impact
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