Mittal Life Style Limited has scheduled its 21st Annual General Meeting for Tuesday, July 28, 2026, at 11.30 a.m. through Video Conferencing. The meeting will seek shareholder approval for the consolidation of equity shares from a face value of Re. 1 to Rs. 10. The Register of Members will remain closed from July 22, 2026, to July 28, 2026, to determine shareholder eligibility.

The Board of Directors proposes to consolidate every 10 equity shares of Re. 1 each into 1 equity share of Rs. 10 each. This consolidation will apply to the authorised, issued, subscribed, and paid-up share capital. The authorised share capital will be adjusted from 7,00,00,000 shares of Re. 1 each to 7,00,00,000 shares of Rs. 10 each. The issued, subscribed, and paid-up capital will change from 4,40,00,000 shares of Re. 1 each to 4,40,00,000 shares of Rs. 10 each.

Share Capital Details

Shareholders will not receive fractional shares. Any fractional entitlements arising from the consolidation will be aggregated and held by an Escrow Holder appointed by the Board. These fractional shares will be sold on the stock exchange, and the net proceeds will be distributed to the eligible shareholders. The company has appointed Bigshare Services Private Limited as the e-voting service provider. Remote e-voting is available from July 25, 2026, at 9:00 a.m. to July 27, 2026, at 5:00 p.m.

Mittal Life Style has approved the consolidation of its equity shares in a 10:1 ratio to reorganize its capital structure and align the market price with the company's intrinsic value. The Board of Directors approved the proposal on June 25, 2026, which will see 10 equity shares of face value Re 1 each consolidated into 1 equity share of face value Rs 10 each. This restructuring is intended to provide a more representative trading price and improve key per-share financial metrics, thereby enhancing investor perception.

The consolidation will impact the company's authorized and issued share capital without changing the total monetary value. The authorized share capital will reduce from 70,00,00,000 equity shares of Re 1 each to 7,00,00,000 equity shares of Rs 10 each. Similarly, the issued, subscribed, and paid-up share capital will decrease from 44,40,00,000 shares to 4,40,00,000 shares, maintaining the total capital at ₹44,40,00,000.

Share Capital Structure

The following table details the pre- and post-consolidation share capital structure:

Implementation and Rationale

The Board believes the consolidation will result in a trading price that better reflects the company's operational performance, net worth, and future growth potential. It is also expected to reduce overhead costs associated with servicing fragmented shareholders. The new shares will rank pari-passu with the existing equity shares.

The process requires approval from shareholders and other regulatory authorities. The company expects to complete the consolidation within six months from the date of shareholder approval, subject to timely receipt of necessary clearances. The record date for the consolidation will be fixed by the Board at a later stage.