Vivanta Industries Limited has announced several key decisions taken by its Board of Directors, including approval for a rights issue and an inter-corporate loan.

Rights Issue Approved

The Board has given its approval for a rights issue to raise up to ₹36.00 crore through the issuance of equity shares with a face value of ₹1.00 each to eligible shareholders. This rights issue is subject to necessary regulatory approvals.

Inter-Corporate Loan

An unsecured inter-corporate loan of up to ₹10.00 crore has been approved by the Board. This loan will carry an interest rate of 8.00% per annum and is set to be disbursed over the next 5 years, starting from January 25, 2024.

Financial Results

The Board has approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2023.

Strategic Appointment

In a move to expand its technological capabilities, the company has appointed Atul Kapadiya as a consultant for drone licensing and robotics business, in line with regulations set by the Directorate General of Civil Aviation (DGCA).

These decisions reflect Vivanta Industries' efforts to strengthen its financial position and explore new business avenues in emerging technologies. The rights issue, if fully subscribed, will significantly boost the company's capital base, while the inter-corporate loan provides additional financial flexibility. The appointment of a drone and robotics consultant signals the company's interest in diversifying into high-tech sectors.

Investors and shareholders will be keenly watching how these strategic moves unfold and impact the company's future growth trajectory.

Vivanta Industries Limited has announced a crucial board meeting scheduled for July 31, 2025, with a key agenda item being the potential appointment of a new Company Secretary and Compliance Officer.

Board Meeting Details

The company has informed the BSE Limited that its Board of Directors will convene on Thursday, July 31, 2025, to discuss and potentially approve significant corporate matters. The primary focus of the meeting will be:

1. Consideration and approval of Mr. Devang Shah (ACS A73008) as the new Company Secretary and Compliance Officer.
2. Any other items that may arise with the permission of the Chair.

Regulatory Compliance

This announcement aligns with the regulatory requirements set forth by the Securities and Exchange Board of India (SEBI) under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Vivanta Industries has duly notified the BSE Limited about this upcoming board meeting, demonstrating its commitment to transparent corporate governance.

Potential Impact

The appointment of a new Company Secretary and Compliance Officer is a significant move for any publicly listed company. If approved, Mr. Devang Shah would play a crucial role in ensuring Vivanta Industries' adherence to regulatory norms and maintaining effective communication between the company and its stakeholders.

Company Leadership

The intimation to the stock exchange was signed by Mr. Hemant Amrish Parikh, the Managing Director of Vivanta Industries Limited, underscoring the importance of this potential appointment at the senior management level.

Investors and stakeholders of Vivanta Industries Limited will be keenly watching the outcomes of this board meeting, as it may signal important changes in the company's corporate structure and compliance framework.