New Markets Avenue Limited held its Board of Directors meeting on August 25, 2026, approving the appointment of Himanshu Khatri as an additional non-executive independent director for a five-year term. The board also approved the notice for its 44th Annual General Meeting (AGM), scheduled for September 29, 2026.

The meeting, convened at the company's registered office in Mumbai, concluded at 3:30 pm. In addition to the director appointment, the board authorized Whole Time Director Kishore Kanhiyalal Jain to negotiate terms for a software license purchase from Mizzen Digital Private Limited or other developers.

Key Agenda Items and Outcomes

The board transacted several items during the session, focusing on governance appointments and upcoming shareholder meetings:

• Director Appointment: Approved Himanshu Khatri (DIN: 08974992) as an Additional Non-Executive Independent Director for five years, subject to member approval. Khatri holds a Bachelor of Commerce degree and is a semi-qualified company secretary with expertise in accounts, administration, and finance.
• Secretarial Auditor: Appointed M/s. Ramesh Chandra Bagdi & Associates as Secretarial Auditor for five consecutive years, from FY27 to FY31, pending shareholder approval.
• AGM Logistics: Approved the notice for the 44th AGM on September 29, 2026, along with e-voting facilities. Mr. Suhas Ganpule of M/s SG and Associates was appointed as the scrutinizer for the meeting.
• Financial Approvals: Approved the Directors' Report for the year ended March 31, 2026, and finalized the book closure and record dates for the AGM.

Regulatory Disclosures

The company issued the intimation pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Kishore Kanhiyalal Jain, Whole Time Director. The appointment of Mr. Khatri aligns with regulatory requirements for board composition under SEBI listing obligations.

Mr. Ramesh Chandra Bagdi, proprietor of the appointed secretarial audit firm, is a practicing company secretary with expertise in corporate laws, secretarial audits, and SEBI compliances. The firm has previously conducted secretarial audits for various listed entities, including banking companies.

Spring Trade Mercantile Private Limited acquired a 4.88% stake in New Markets Avenue Limited through a preferential allotment of 5,00,000 equity shares on August 13, 2026.

The acquisition, disclosed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, marks the entry of Spring Trade Mercantile as a significant shareholder in the Mumbai-listed firm. The acquirer confirmed it does not belong to the promoter or promoter group of the target company.

Transaction Details

The deal involved the issuance of new equity shares rather than an off-market transfer of existing holdings. Prior to this transaction, Spring Trade Mercantile held zero shares in New Markets Avenue Limited. Following the allotment, its holding stands at 5,00,000 shares, representing 4.88% of both the total share capital and the diluted voting capital.

The total equity share capital of New Markets Avenue Limited remained unchanged at 1,02,40,000 equity shares of ₹10/- face value before and after the transaction, indicating that the allotment likely involved fresh issuance or rights issues accounted for within the existing capital structure framework as per the filing. No warrants, convertible securities, or encumbered shares were involved in this specific acquisition event.

Regulatory Disclosure

The disclosure was filed with the Bombay Stock Exchange Limited by Dhruvil Naynesh Parikh, Director of Spring Trade Mercantile Private Limited, on August 22, 2026. The filing confirms compliance with SEBI’s takeover regulations regarding substantial acquisitions. No other instruments entitling the acquirer to voting rights were acquired or sold during this period.