NHC Foods Limited has announced a significant corporate action involving the conversion of warrants into equity shares. The Board of Directors approved the allotment of 2.1 crore equity shares to a non-promoter investor, marking a notable development in the company's capital structure.

Key Details of the Allotment

Warrant Conversion Details

The allotment was executed through the conversion of convertible warrants, with the warrant holder exercising the option to convert 2.1 crore warrants into an equal number of equity shares. The investor, Satyam Shirishchandra Joshi, paid the remaining exercise price of Rs. 0.9375 per warrant, which represents 75% of the total warrant exercise price of Rs. 1.25.

Remaining Warrants

Following this conversion, Satyam Shirishchandra Joshi still holds 4.4 crore warrants pending conversion out of the original 6.5 crore warrants allotted. This indicates potential for further equity expansion in the future, subject to the investor's decision to exercise the remaining warrants.

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The allotment was approved at a board meeting held on October 27, 2025, which commenced at 4:00 PM and concluded at 4:30 PM.

This corporate action represents a significant step for NHC Foods Limited, potentially impacting its shareholding structure and providing additional capital for the company's operations or growth initiatives.

NHC Foods Limited, a company listed on the Bombay Stock Exchange, has announced significant changes in its leadership and compliance structure following its 33rd Annual General Meeting (AGM).

Director Designation Change

Shareholders at the AGM approved the change in designation of Mr. Ashish Ashokkumar Shah from Non-Executive Director to Executive Director. Mr. Shah, who holds Commerce and LLB degrees from M.S. University, brings over 15 years of experience in Accounts and Taxation to his new executive role.

The company clarified that Mr. Shah is not related to any other director on the board and has not been debarred from holding a directorship position. This move suggests a more active role for Mr. Shah in the company's day-to-day operations, potentially leveraging his extensive experience in financial matters.

Appointment of New Secretarial Auditors

In another significant development, the shareholders approved the appointment of M/s. DM & Associates Company Secretaries LLP as the company's Secretarial Auditors. The firm has been appointed for a term of five consecutive years.

The appointment of DM & Associates was initially proposed by the board, subject to shareholder approval, which has now been granted at the AGM. The firm is led by Mr. Dinesh Deora, a professional with over three decades of experience in Finance, Legal, Taxation, and regulatory services.

Other AGM Proceedings

The AGM, conducted through video conferencing, also addressed other important matters:

1. Adoption of audited standalone and consolidated financial statements
2. Re-appointment of Mr. Ashish Ashokkumar Shah as a director, who was retiring by rotation
3. Enhancement of limits under Section 186 of the Companies Act, 2013

Trading Window Closure

Following the AGM, NHC Foods Limited announced the closure of its trading window for insiders. This closure will remain in effect until 48 hours after the declaration of financial results for the half-year, in compliance with SEBI regulations.

These developments indicate NHC Foods Limited's commitment to strengthening its governance structure and ensuring compliance with regulatory requirements. The change in Mr. Shah's role to an executive position and the appointment of experienced secretarial auditors may signal the company's focus on enhancing its financial management and regulatory compliance capabilities.