S.M. Gold Limited has successfully concluded its board meeting on March 23, 2026, approving revised terms and conditions for its rights issue of fully paid-up equity shares. The board accepted modifications including the conversion of promoter's outstanding unsecured loan to equity against their rights entitlement.

Board Meeting Outcome

The board meeting was held on Monday, March 23, 2026, at the company's registered office in Ahmedabad from 4:00 PM to 6:00 PM IST. The meeting addressed key agenda items including the acceptance of revised Draft Letter of Offer terms and noted the resignation of the Company Secretary and Compliance Officer.

Rights Issue Details

The board approved a rights issue of up to 26,475,024 fully paid-up equity shares of face value ₹10.00 each, aggregating up to ₹2647.50 lakhs. The issue maintains the previously announced parameters with no changes to issue price, issue size, or ratio.

Promoter Loan Conversion

A significant development approved by the board involves the adjustment of the promoter's outstanding unsecured loan through conversion to equity against their rights entitlement. This modification requires requisite approvals and represents a strategic move to strengthen the company's capital structure while maintaining promoter commitment.

Regulatory Compliance and Next Steps

The company has communicated the board meeting outcome to BSE Limited in accordance with Regulation 30 of SEBI (LODR) Regulations, 2015, and other relevant provisions. The record date for determining eligible shareholders will be announced in due course, with detailed terms and application procedures to be specified in the Letter of Offer to be sent to eligible equity shareholders.

The announcement was signed by Pulkitkumar Sureshbhai Shah, Managing Director (DIN: 07878190), ensuring proper corporate governance and regulatory compliance throughout the rights issue process.

S.M. Gold Limited has announced the resignation of its Company Secretary and Compliance Officer, Ms. Megha Saraswat, effective March 17, 2026. The company informed BSE Limited about this key managerial personnel change through a formal disclosure dated March 18, 2025, in compliance with regulatory requirements.

Resignation Details

Ms. Megha Saraswat (ACS 72665) submitted her resignation letter on March 17, 2026, citing a new professional opportunity outside the organization that aligns with her long-term career goals. The resignation was communicated to the company's Board of Directors through a formal letter addressed to the management.

Official Documentation

The formal resignation letter was addressed to the Board of Directors at S.M. Gold Limited's registered office at Shop No. 1 to 3, 2nd Floor, 24 Caret Building, Opp. Rock Regency Hotel Law Garden, C G Road, Ahmedabad, Gujarat. In her resignation letter, Ms. Saraswat expressed sincere gratitude for the opportunities and professional support received during her tenure with the company.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made in accordance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, which governs disclosures related to changes in key managerial personnel.

Statutory Requirements

Ms. Saraswat's resignation letter specifically mentioned the requirement to file Form DIR-12 with the Registrar of Companies to formalize her cessation as Key Managerial Personnel of the company. The disclosure was signed by Pulkitkumar Sureshbhai Shah, Managing Director (DIN: 07878190), on behalf of S.M. Gold Limited, confirming the company's acknowledgment of the resignation and commitment to completing necessary statutory filings.