Board Meeting14 Jul 2026, 08:11 pm
Rose Merc Ltd Board Approves Preferential Issue & Director Appointments
AI Summary
Rose Merc Limited's Board of Directors has approved a preferential issue of 3,00,000 equity shares and 6,06,111 warrants, both at ₹90 per share, to non-promoters. The board also approved altering the Memorandum of Association, appointing Amitkumar Yogendra Singh as Executive Director & COO, and Santosh Gavade as Independent Director. Additionally, an inter-corporate loan of up to ₹10 crore to a subsidiary and the grant of 3,50,000 ESOPs to a senior executive were approved. These decisions are subject to shareholder approval via postal ballot.
Key Highlights
- Board approves preferential issue of equity shares and warrants to non-promoters.
- New directors appointed, including an Executive Director and COO for FinTech.
- Inter-corporate loan of ₹10 crore approved for subsidiary Virtual Gain Technologies.
- Employee Stock Options (ESOPs) granted to a Senior Vice President.
- Alteration of Memorandum of Association also approved by the board.
Price Impact
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