Maestros Electronics & Telecommunications Systems Limited has allotted 55,10,237 fully paid-up bonus equity shares in a 1:1 ratio, effectively doubling its paid-up share capital. The allotment was approved via circular resolution on October 5, 2026, with the record date fixed as October 1, 2026.

The new shares carry a face value of ₹10 each and are issued to eligible members whose names appeared in the Register of Members or Register of Beneficial Owners on the record date. These bonus shares rank pari passu with existing equity shares in all respects.

Capital structure impact

Following the allotment, the company's paid-up equity share capital has increased significantly. The pre-bonus capital stood at ₹5.51 crore, which now rises to ₹11.02 crore post-issue.

Regulatory compliance

The action was taken pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the bonus shares would be credited to shareholder accounts within the statutory time limits.

What the Numbers Show

The 1:1 bonus issue results in a precise doubling of the outstanding share count from 55,10,237 to 1,10,20,474. Consequently, the total paid-up capital expands from ₹5.51 crore to ₹11.02 crore, reflecting a direct correlation between the number of shares issued and the increase in nominal capital without any inflow of fresh cash.

Maestros Electronics & Telecommunications Systems Limited has fixed Thursday, October 1, 2026, as the record date for determining shareholder eligibility for its recently approved 1:1 bonus issue. This follows the shareholders' approval at the Annual General Meeting held on September 23, 2026.

The company will allot 55,10,237 equity shares of face value ₹10 each. The deemed date of allotment is set for Monday, October 5, 2026, with the bonus shares expected to be available for trading from Tuesday, October 6, 2026.

Bonus issue details

The bonus issue was recommended by the Board of Directors on August 24, 2026, and subsequently ratified by shareholders during the 17th AGM. The proposal entails issuing one new fully paid-up equity share for every existing equity share held by members as on the record date.

The new shares will rank pari-passu in all respects with the existing equity shares. This corporate action aligns with the earlier approval for an increase in authorized share capital to ₹15 crore, which now comprises 1,50,00,000 equity shares of face value ₹10 each.

Capital structure changes

The increase in authorized share capital and the consequent alteration of the Memorandum of Association were key resolutions passed at the AGM. The altered Clause V states that the authorized share capital is ₹15,00,00,000, divided into 1,50,00,000 equity shares.

This capital hike accompanies the approval for the issue of bonus shares, a move often used to enhance liquidity or reward long-term shareholders without diluting promoter control significantly if structured appropriately.

Resolutions passed

Shareholders transacted six items of business through ordinary and special resolutions. The key approvals included:

• Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.
• Re-appointment of Narendra Prabhakar Mahajani as Non-Executive Non-Independent Director.
• Increase in authorized share capital and consequent alteration of the Memorandum of Association.
• Issue of bonus shares.
• Approval of remuneration for Balkrishna Kamalakar Tendulkar for a two-year period.
• Re-appointment of Prakash Vithal Page as Independent Director for a second five-year term, including continuation beyond age 75.

Voting results analysis

The company submitted detailed voting results to the Bombay Stock Exchange, confirming that all resolutions were passed with requisite majority. Promoter and promoter group shareholders voted 100% in favour across all six agenda items, casting 35,15,583 votes out of their holding of 35,20,855 shares.

Public non-institutional investors participated significantly, with 2,42,650 votes polled on each resolution. While the vast majority voted in favour, minor dissent was recorded on specific items. For instance, on the adoption of financial statements and remuneration approval, public non-institutions cast 1,003 votes against, resulting in a 99.59% support rate among this group. On other resolutions, such as director re-appointments and capital hikes, dissent rose slightly to 1,714 votes, yielding a 99.29% support rate from public non-institutions.

Director re-appointment details

The shareholders approved the re-appointment of Prakash Vithal Page as an Independent Director for a second term of five consecutive years. This resolution also granted approval for the continuation of his directorship upon attaining the age of seventy-five years. The new term is effective from February 5, 2027.

Page holds qualifications as a Fellow Chartered Accountant and Fellow Company Secretary, and is a member of the Institute of Internal Auditors, Florida. His professional background includes serving as an Independent Director for several Maharashtra State Electricity Board entities, including MSEB Holding Company Limited, Maharashtra Power Generation Company Limited, Maharashtra State Electricity Distribution Company Limited, and Maharashtra Power Transmission Company Limited. The company disclosed that none of the current Directors or Key Managerial Personnel are related to Page, and he is not debarred from holding office by SEBI or any other authority.

Meeting details and attendance

The AGM commenced at 3:30 pm and concluded at 4:35 pm. Mr. Harshad Patel, Company Secretary, provided instructions on voting procedures. M/s. Makarand M. Joshi and Co., Practicing Company Secretaries, were appointed as scrutinizers for the voting process. Vaibhav Dandawate, Partner at M/s. Makarand M. Joshi & Co., issued the consolidated scrutinizer’s report dated September 23, 2026.

The remote e-voting period ran from September 20, 2026, to September 22, 2026. No shares with differential voting rights were present in the company. Public institutions did not cast any votes during the e-voting process.

The results of the e-voting, along with the consolidated scrutinizer's report, were declared immediately following the conclusion of the meeting.