Advance Multitech approves ₹40 crore warrant issue at AGM
- Approved issuance of up to 1 crore convertible warrants at ₹40 each on preferential basis
- Sanctioned borrowing limit increase up to ₹50 crore from company directors
- Appointed M/s. Rajesh J Shah & Associates as statutory auditors for FY26
- Ratified Rahul Ashokbhai Jain as Managing Director and Chairman
*this image is generated using AI for illustrative purposes only.
Advance Multitech Limited approved the issuance of up to 1 crore fully convertible warrants at ₹40 each to non-promoter investors on a preferential basis during its 47th Annual General Meeting held on September 28, 2026.
The meeting, conducted in physical mode in Ahmedabad, also sanctioned an increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013. This includes authority to borrow up to ₹50 crore from directors of the company.
Key resolutions passed
Shareholders adopted the audited financial statements for FY26 and appointed M/s. Rajesh J Shah & Associates as the new statutory auditors. The board also approved the increase in authorized share capital and the alteration of the Memorandum of Association to reflect these changes.
Leadership appointments were ratified, including Rahul Ashokbhai Jain as Managing Director and Chairman. Three new non-executive independent directors were appointed: Alpesh Rameshbhai Paliwal, Ankush Madan Pandey, and Priyanka Kirtikumar Marvania.
Governance and compliance
The company reported no qualifications or adverse comments from statutory auditors M/s. Suresh R. Shah & Associates or secretarial auditors Patawari & Associates. Remote e-voting results and poll outcomes will be declared upon receipt of the scrutinizer’s report and uploaded to stock exchanges.
| Item | Resolution Type | Key Detail |
|---|---|---|
| Warrant Issue | Special | Up to 1 crore warrants at ₹40 each |
| Borrowing Limit | Special | Increase under Section 180(1)(c) |
| Director Loans | Special | Up to ₹50 crore from directors |
| Auditor Appointment | Ordinary | M/s. Rajesh J Shah & Associates |
| MD Appointment | Ordinary | Rahul Ashokbhai Jain |
What the numbers show
The approval for ₹50 crore in director loans alongside the ₹40 crore external warrant issue indicates a dual-track capital strategy. The company is simultaneously seeking equity-linked funding from external non-promoters while securing significant debt capacity from insiders, suggesting a need for immediate liquidity or expansion capital without diluting promoter control excessively through debt.
Historical Stock Returns for Advance Multitech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +20.00% | +74.96% | +112.60% | +112.60% | +112.60% | +112.60% |
How will the ₹40 crore equity infusion from non-promoter warrants impact Advance Multitech's existing promoter shareholding dilution?
What specific expansion projects or working capital needs is the company targeting with the combined ₹90 crore dual-track capital raise?
Will the new statutory auditor, M/s. Rajesh J Shah & Associates, introduce stricter compliance protocols compared to the previous firm?
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