Callista Industries Announces Major Leadership Changes and Capital Expansion Plans
Callista Industries Limited has reported significant changes in its leadership and capital structure. Two key executives, including the Whole Time Director and CFO, have resigned. Mrs. Rashmi Ravi Sharma has been appointed as the new CFO. The company plans to increase its authorized share capital from Rs. 10.00 crore to Rs. 38.10 crore. It also intends to issue 3,37,50,000 convertible warrants to promoters and non-promoters, and 12,50,000 equity shares to non-promoters on a preferential basis. These changes are subject to necessary approvals.
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Callista Industries Limited (BSE: 539335) has unveiled significant changes in its leadership structure and ambitious capital expansion plans, as per the company's latest board meeting outcome.
Leadership Changes
The company reported the resignation of two key executives:
- Mr. Mahendra Kumar Banwarilal Sharma has stepped down from his positions as Whole Time Director and Chief Financial Officer, effective November 14, 2025.
- Mr. Navnath Shalik Patil has resigned from his role as Company Secretary, also effective from the same date.
In a swift transition, the board has appointed Mrs. Rashmi Ravi Sharma as the new Chief Financial Officer of the company, effective immediately. Mrs. Sharma brings over 20 years of experience in marketing and administration to her new role.
Capital Restructuring and Fund Raising
Callista Industries has also announced significant capital restructuring plans:
Increase in Authorized Share Capital: The company plans to increase its authorized share capital from Rs. 10.00 crore to Rs. 38.10 crore, divided into 3,81,00,000 equity shares of Rs. 10 each.
Preferential Allotment of Convertible Warrants: The board has approved the issuance of 3,37,50,000 convertible warrants on a preferential basis to promoters, promoter group, and non-promoters.
Equity Shares Issuance: Additionally, the company plans to issue 12,50,000 equity shares to non-promoters on a preferential basis.
The details of the proposed allotments are as follows:
| Investor Category | Convertible Warrants | Equity Shares |
|---|---|---|
| Promoter & Group | 1,57,50,000 | - |
| Non-Promoter | 1,80,00,000 | 12,50,000 |
| Total | 3,37,50,000 | 12,50,000 |
These capital expansion initiatives are subject to necessary approvals and regulations set by the Securities and Exchange Board of India (SEBI).
The company's board has stated that these decisions were made after due deliberation, reviewing matters approved in their previous meeting held on November 5, 2025.
Investors and stakeholders are advised to monitor further announcements from the company regarding the implementation of these significant changes and their potential impact on the company's future operations and financial position.
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