National Oxygen Limited will hold a meeting of its Board of Directors on Tuesday, August 4, 2026, to adopt new versions of its Memorandum of Association (MOA) and Articles of Association (AOA). The board will also determine the date, time, and venue for the company’s Annual General Meeting (AGM) for the financial year 2025-26, alongside approving the related notice, Board’s Report, and Secretarial Audit Report.

The decision to update the constitutional documents aligns with provisions under the Companies Act, 2013. In addition to these structural changes, the board is scheduled to appoint intermediary agencies, such as CDSL or NSDL, to facilitate e-voting for the upcoming AGM. The company will also select a scrutinizer to oversee the electronic voting process, ensuring compliance with regulatory standards.

Key Agenda Items

The board meeting agenda covers several critical corporate governance and administrative tasks:

Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, National Oxygen Limited disclosed the meeting schedule to the Bombay Stock Exchange (BSE). The intimation was issued on July 30, 2026, by Rajesh Kumar Saraf, Managing Director of the company.

What This Means for Shareholders

The adoption of new MOA and AOA documents typically reflects updates to the company’s operational framework or compliance with evolving statutory requirements under the Companies Act, 2013. While the specific textual changes are not detailed in the intimation, such updates are standard procedural steps for listed entities to maintain regulatory alignment. Shareholders should note that the final dates for the AGM and book closure will be communicated in subsequent notices following the board’s approval on August 4, 2026.

National Oxygen Limited has withdrawn a proposed preferential issue of equity shares following a significant decline in its market price and reservations expressed by the proposed investor. The Board of Directors approved the withdrawal at its meeting held on July 15, 2026, determining that the previously approved issue price of ₹93.80 per share no longer reflects current market conditions. The company stated that this decision will not have any material adverse impact on its business operations or financial position.

The preferential issue was initially approved by the Board on April 29, 2026, and subsequently sanctioned by shareholders at an Extraordinary General Meeting on May 28, 2026. The proposal involved the allotment of 9,50,000 equity shares with a face value of ₹10 each to Saraf Housing Development Private Limited, a promoter group entity. The total issue size was ₹8,91,10,000, comprising a premium of ₹83.80 per share, in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Key Details of the Withdrawn Issue

The company had submitted an application to BSE Limited for in-principle approval regarding the preferential issue, which was still pending at the time of withdrawal. The Board noted that the investor, Saraf Housing Development Private Limited, had requested the deferment of the investment due to the prevailing market conditions. Consequently, the Board decided to withdraw the proposal after considering the commercial viability of the transaction.

National Oxygen Limited indicated that it may consider undertaking a fresh fund-raising exercise, including a potential preferential issue, at an appropriate time in the future. Any such initiative will be dependent on market conditions and subject to obtaining necessary regulatory and statutory approvals. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.