Corporate Action9 Jul 2026, 04:50 pm
Switching Technologies Gunther Ltd Increases Authorised Share Capital
AI Summary
Switching Technologies Gunther Ltd's Board of Directors approved a significant increase in Authorised Share Capital from ₹6 Crore to ₹30 Crore, by creating 2.4 Crore additional equity shares. The board also approved enhancing the limit under Section 186 of the Companies Act, 2013, to ₹1000 Crore for investments, loans, guarantees, or security. Additionally, valuation reports for a preferential issue on a share swap basis were approved. The fair value of the company's equity shares was determined at ₹98 by a registered valuer, with a floor price of ₹97.49 set for the preferential issue.
Key Highlights
- Authorised share capital increased from ₹6 Cr to ₹30 Cr.
- Limit under Section 186 enhanced to ₹1000 Cr.
- Valuation reports approved for preferential issue.
- Floor price for preferential issue set at ₹97.49 per share.
- Proposed preferential issue does not involve change in control.
Price Impact
More from SWITCHTE