Shashank Traders Ltd Board Approves Capital Hike, Name Change
Shashank Traders Ltd's Board of Directors, in a meeting held on July 06, 2026, approved several significant corporate actions, subject to shareholder and regulatory approvals. Key decisions include a substantial increase in authorized share capital from ₹3.50 Crores to ₹50 Crores, a proposed name change from "Shashank Traders Limited" to "Cosmic Energy & Motors Limited", and alterations to the Memorandum and Articles of Association. The board also approved the appointment of M/s. ValuGenius Advisors LLP as a Registered Valuer for share valuation and M/s. Narnolia Financial Services Limited as a Merchant Banker for advisory services related to a proposed acquisition and preferential issue. Furthermore, the board resolved to empower itself to create charges on company assets up to ₹500 Crores and increase borrowing powers.
Key Highlights
- Authorized share capital increased from ₹3.50 Cr to ₹50 Cr.
- Company name proposed to change to "Cosmic Energy & Motors Limited".
- Appointment of Registered Valuer and Merchant Banker for transactions.
- Board empowered to create charges up to ₹500 Cr on company assets.
- Alterations to MOA and AOA approved, pending shareholder nod.
Price Impact
More from SHASHANK