NewsCorporate ActionsBhakti Gems & Jewellery Proposes Major Corporate Changes, Including Name Change and Capital RaiseBhakti Gems & Jewellery Proposes Major Corporate Changes, Including Name Change and Capital Raise
Bhakti Gems & Jewellery Limited has announced several significant corporate changes through a postal ballot notice. The company is seeking shareholder approval for a name change to 'Guru Krupa Gems and Jewellery Limited', a preferential allotment to raise Rs 9.02 crore, an increase in authorized share capital from Rs 15.04 crore to Rs 20.04 crore, and new appointments of statutory auditors and directors. The preferential issue involves 32 lakh equity shares at Rs 28.20 per share to Krina Creation Private Limited. Shareholders can vote on these proposals through e-voting from December 9 to January 7.
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Bhakti Gems & Jewellery Limited has announced a series of significant corporate changes, including a proposed name change and capital raise, through a postal ballot notice to its shareholders.
Key Proposed Changes
The company is seeking shareholder approval for the following major changes:
| Proposed Change | Details |
|---|---|
| Name Change | From "Bhakti Gems & Jewellery Limited" to "Guru Krupa Gems and Jewellery Limited" |
| Preferential Allotment | Raising Rs 9.02 crore through issuance of 32 lakh equity shares |
| Authorized Share Capital | Increase from Rs 15.04 crore to Rs 20.04 crore |
| New Appointments | New statutory auditors and directors |
Preferential Issue Details
Bhakti Gems and Jewellery plans to raise Rs 9.02 crore through a preferential allotment of 32 lakh equity shares at Rs 28.20 per share to Krina Creation Private Limited. This move aims to strengthen the company's capital base and provide funds for future growth initiatives.
Authorized Share Capital Increase
The company proposes to increase its authorized share capital from Rs 15.04 crore to Rs 20.04 crore. This increase may provide the company with greater flexibility for future capital raising activities and corporate actions.
Name Change
The proposed name change from "Bhakti Gems & Jewellery Limited" to "Guru Krupa Gems and Jewellery Limited" represents a significant rebranding initiative. This change, if approved, will be subject to necessary regulatory clearances.
New Appointments
The postal ballot also includes proposals for appointing new statutory auditors and directors.
Shareholder Voting
Shareholders will have the opportunity to vote on these proposals through e-voting, scheduled from December 9 to January 7. The outcome of this voting will be crucial in determining the company's future direction.
Investor Implications
These proposed changes, particularly the name change, capital raise, and new appointments, may have significant implications for the company's future strategy and market perception. Shareholders and potential investors may want to carefully consider the details of these proposals and their potential impact on the company's growth trajectory.
Investors are advised to review the full postal ballot notice and participate in the e-voting process to have their say in these important corporate decisions.
Historical Stock Returns for Bhakti Gems & Jewellery
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.00% | +23.43% | +39.95% | +196.42% | +139.00% | -24.01% |
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