PVV Infra Limited held its 31st Annual General Meeting on September 28, 2026, adopting the audited financial statements for FY26 and approving key director appointments.

The meeting, conducted via Video Conferencing/Other Audio-Visual Means, saw 57 members attend. The Chairman provided an overview of the company's performance and future outlook before the agenda items were transacted.

Resolutions passed

Members considered and voted on four ordinary and special resolutions as per the notice. The e-voting process, scrutinized by CS Vinay Babu Gade, concluded on September 27, 2026.

Governance updates

The appointment of M/s. P V G R & Associates (Firm Registration No. 022181S) as Statutory Auditors marks a five-year tenure for the firm. Additionally, the special resolution for Jayshree Jha's appointment as Independent Director was approved, strengthening the board's independent oversight capabilities.

The Chairman announced that the results of the e-voting would be declared upon receipt of the scrutinizer's report and placed on the company's website and the central depository services agency's website within two working days.

PVV Infra board approved the conversion of 1.17 crore partly paid-up equity shares into fully paid-up equity shares on September 4, 2026. The move follows the collection of call money on these rights shares.

The company received an aggregate call money amount of ₹4,41,04,529 on 1,17,61,207 partly paid-up equity shares during the call money period from August 19, 2026 to September 2, 2026. These shares had a face value of ₹5 each with ₹1.25 paid-up initially.

Conversion Details

The Board converted the aforementioned shares bearing ISIN IN9428B01029 into fully paid-up equity shares bearing ISIN INE428B01021. Post-conversion, the paid-up share capital stands at ₹82,81,15,783.

The total capital is divided between 14,95,73,336 fully paid-up equity shares and 6,41,99,280 partly paid-up rights equity shares.

Unpaid Shares and Next Steps

For the balance 6,41,99,280 partly paid-up rights equity shares, the first and final call money aggregating to ₹24,07,47,300 remains unpaid. The Board decided to issue a Reminder Notice to holders of these shares.

This notice will provide an additional opportunity to pay the outstanding call money and convert their shares. The dispatch of this notice will occur after the completion of corporate action, depository credit, listing, and trading approval formalities for the current batch of converted shares.

What the Numbers Show

The conversion process reveals a significant gap in subscription completion. While the initial issue size was ₹49,33,21,420 for 9,86,64,284 shares, only a fraction of the remaining balance has been collected. The unpaid amount of ₹24,07,47,300 represents a substantial portion of the potential capital infusion from the rights issue, indicating that nearly two-thirds of the allotted shares remain partly paid-up pending further action by shareholders.