Gujarat Hy Spin , a company listed on the BSE SME platform, held a significant Extra-Ordinary General Meeting (EGM) on October 11, 2025, where shareholders voted on two crucial resolutions. The meeting, which took place at the company's registered office in Gondal, Gujarat, saw unanimous approval for both proposed resolutions.

Key Resolutions Passed

Alteration of Authorized Share Capital

Shareholders approved changes to the company's authorized share capital and consequential amendments to the Memorandum of Association's capital clause.

Preferential Equity Issue

A special resolution was passed to issue equity shares on a preferential basis to non-promoters for cash consideration.

Voting Results

The voting results, as reported by the scrutinizer, M/s. Monika V Tyagi & Associates, revealed overwhelming support for both resolutions:

A total of 19 members, representing 11,447,875 votes, participated in the voting process. The unanimous support for both resolutions indicates strong shareholder alignment with the company's proposed actions.

Meeting Proceedings

The EGM was chaired by Mr. Maganlal Parvadiya, the Chairman & Whole-time Director of Gujarat Hy-Spin Limited. The meeting commenced at 11:00 AM and concluded at 11:30 AM, with the chairman providing an overview of the company's performance before proceeding with the voting process.

Compliance and Disclosure

In compliance with regulatory requirements, Gujarat Hy-Spin Limited has submitted the voting results and the scrutinizer's report to BSE Limited. The company has also stated that detailed results will be uploaded on their website for public access.

These corporate actions, particularly the alteration of share capital and the approval for a preferential equity issue, may signal Gujarat Hy-Spin Limited's intentions for potential growth or restructuring initiatives.

Gujarat Hy Spin , a textile manufacturing company, has announced plans to raise ₹24 crore through a preferential share issue to non-promoter investors. The company will seek shareholder approval for this and other resolutions at an Extra-ordinary General Meeting (EGM) scheduled for October 11, 2025.

Increase in Authorized Share Capital

The company proposes to increase its authorized share capital from ₹16.75 crore to ₹22.75 crore by adding 60 lakh equity shares of ₹10 each. This increase is necessary to accommodate the new share issuance.

Preferential Share Issue Details

Gujarat Hy-Spin plans to issue 60 lakh equity shares at ₹40 per share, which includes a premium of ₹30 per share. The shares will be allotted to ten non-promoter investors. This move will significantly alter the company's shareholding structure:

Fund Utilization

The company has outlined the following plan for utilizing the funds raised:

Pricing and Valuation

The issue price of ₹40 per share is based on a registered valuer's report and complies with SEBI regulations. This price is higher than the volume-weighted average prices of the company's shares over the past 90 and 10 trading days, which were ₹24.23 and ₹25.97 respectively.

Regulatory Compliance

The preferential issue will be subject to various regulatory requirements, including:

• Lock-in periods for the allotted shares as per SEBI ICDR Regulations
• Approval from the stock exchange where the company's shares are listed
• Compliance with the Companies Act, 2013 and SEBI regulations

Impact on Control

While the issue will dilute the promoter shareholding, the company has stated that there will be no change in control or management as a result of this preferential issue.

The EGM will be held at the company's registered office in Gondal, Gujarat. Shareholders will vote on the resolutions for increasing the authorized share capital and approving the preferential share issue.

This capital raising initiative appears to be part of Gujarat Hy-Spin's strategy to optimize its power costs through solar energy investment, reduce debt, and strengthen its financial position for future growth.