News Corporate Actions MFS Intercorp Limited Board Approves Authorized Capital Increase and Postal Ballot NoticeMFS Intercorp Limited Board Approves Authorized Capital Increase and Postal Ballot Notice
MFS Intercorp Limited's board meeting on January 29, 2026, approved a significant increase in authorized share capital from ₹5,00,00,000 to ₹15,10,00,000, expanding equity shares from 50,00,000 to 1,51,00,000 at ₹10 each. The board also approved postal ballot procedures and appointed Mr. Ankurkumar Gandhi as scrutinizer to oversee the shareholder approval process.
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MFS Intercorp Limited's Board of Directors approved significant corporate restructuring measures during their meeting on January 29, 2026, including a substantial increase in authorized share capital and the initiation of postal ballot procedures for shareholder approval.
Authorized Capital Expansion
The board approved a significant expansion of the company's authorized share capital, representing a strategic move to enhance the company's financial capacity. The proposed increase will substantially expand the company's equity base.
| Parameter: | Current Structure | Proposed Structure |
|---|---|---|
| Authorized Capital: | ₹5,00,00,000 | ₹15,10,00,000 |
| Number of Shares: | 50,00,000 | 1,51,00,000 |
| Face Value per Share: | ₹10 | ₹10 |
| Share Type: | Equity Shares | Equity Shares |
This expansion will increase the authorized capital from ₹5,00,00,000 (Rupees Five Crores Only) to ₹15,10,00,000 (Rupees Fifteen Crores Ten Lakh Only), effectively tripling the company's authorized share capital. The number of equity shares will increase from 50,00,000 (Fifty Lakhs) to 1,51,00,000 (One Crore Fifty-One Lakhs), while maintaining the face value of ₹10 per share.
Postal Ballot Process and Governance
The board approved the postal ballot notice along with explanatory statements to seek shareholder approval for the proposed changes. This decision ensures compliance with regulatory requirements and provides shareholders with the opportunity to participate in the decision-making process.
| Appointment Details: | Information |
|---|---|
| Scrutinizer: | Mr. Ankurkumar Gandhi |
| Designation: | Practicing Company Secretary |
| Firm: | M/s. Ankur Gandhi & Associates |
| ACS Number: | 48016 |
| CP Number: | 17543 |
| Purpose: | Conducting Postal Ballot Process |
The board appointed Mr. Ankurkumar Gandhi, a Practicing Company Secretary from M/s. Ankur Gandhi & Associates, as the scrutinizer for the postal ballot process. His role will be to ensure the voting process is conducted in a fair and transparent manner, maintaining the integrity of shareholder participation.
Meeting Details and Next Steps
The board meeting was conducted efficiently, commencing at 10:00 a.m. and concluding at 10:50 a.m. on January 29, 2026. The decisions were made in compliance with Regulation 30 read with Schedule III and Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The proposed increase in authorized capital and consequent alteration of the Memorandum of Association are subject to approval by the company's members through the postal ballot process. The company will proceed with the postal ballot mechanism to obtain the necessary shareholder approvals for implementing these corporate actions.
Historical Stock Returns for MFS Intercorp
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -100.00% | -100.00% | -100.00% | -100.00% | -100.00% | -100.00% |
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