Advance Multitech has completed its board meeting on September 1, 2026, approving a preferential issue of warrants convertible into equity shares worth up to ₹40 crore. The company also resolved to increase its authorized share capital to ₹45 crore and raise borrowing limits to ₹100 crore.

The board approved the issuance of up to 4 crore warrants at an issue price of ₹10 per warrant. These instruments are convertible into one equity share each within 18 months. The allotment is proposed to 120 investors, including key promoters and related parties.

Capital Restructuring

The authorized share capital will rise from ₹5 crore (50 lakh shares) to ₹45 crore (4.5 crore shares) of face value ₹10 each. This amendment requires shareholder approval at the upcoming Annual General Meeting (AGM). The company also approved altering the Main Object Clause of its Memorandum of Association (MOA) to comprehensively cover the processing, manufacturing, and trading of spices, agro-based commodities, and allied food products.

Governance Changes

The meeting featured significant changes in leadership. Mr. Arvind Vishwanath Goenka resigned as Managing Director, while Mr. Pulkit Goenka stepped down as Chief Financial Officer (CFO) due to mutual exit.

New appointments include:

• Rahul Ashokbhai Jain as Additional Director designated as Managing Director & Chairman
• Rajneel Gautambhai Jain and Siddharth Arvindbhai Jain as Executive Directors
• Sumita Rahul Jain as Chief Financial Officer

Three new Independent Directors were appointed: Alpesh Rameshbhai Paliwal, Ankush Madan Pandey, and Priyanka Kirtikumar Marvania. Resignations were also noted from Hiral Rajeshkumar Shah, Ravindrakumar Laljibhai Mehta, Govind Ganpatlal Shah, and Minaxi Govind Shah.

Audit and Compliance

M/s Shailesh Bharwad & Associates was appointed as Internal Auditor for FY27. M/s Rajesh J Shah & Associates was appointed as Statutory Auditors for five consecutive years, effective from the conclusion of the 47th AGM. The board also approved the draft Directors' Report for FY26 and decided on the date for the 47th AGM.

What the Numbers Show

The preferential warrant issue is heavily concentrated among promoter-related entities. Key investors such as Rahul Ashokbhai Jain, Vanraj Ashokkumar Jain, and their respective HUFs are among the top allottees. The 18-month conversion window allows these investors to defer full capital deployment while securing future equity stakes at a fixed price of ₹10 per share.

Advance Multitech has accepted the resignations of its Managing Director and four other board members, effective September 1, 2026. The departures include Arvind Vishwanath Goenka, who held the top executive role, alongside two additional independent directors and two additional directors.

The company disclosed the changes to the BSE on August 25, 2026, citing mutual exits and other project handling as the reasons for the resignations. The move significantly reshapes the company's leadership structure in a single filing.

Key Resignations

The following directors have tendered their resignations:

• Arvind Vishwanath Goenka: Managing Director. He holds 22,65,00 equity shares in the company.
• Hiral Rajeshkumar Shah: Additional Independent Director. He currently serves as Managing Director of Hallmark Textiles Limited.
• Ravindrakumar Laljibhai Mehta: Additional Independent Director. He serves as an Additional Director at Hallmark Textiles Limited.
• Govind Ganpatlal Shah: Additional Director.
• Minaxi Govind Shah: Additional Director.

All five directors confirmed that there are no material reasons for their resignation other than those stated in their respective letters. The resignations take effect at the close of business hours on September 1, 2026.

Regulatory Compliance

The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Goenka, whose DIN is 00093200, signed the intimation letter as Managing Director. The remaining directors provided their DINs in their individual resignation letters: Hiral Rajeshkumar Shah (10656368), Ravindrakumar Laljibhai Mehta (10881551), Govind Ganpatlal Shah (10017709), and Minaxi Govind Shah (11348531).