CMX Holdings Limited (formerly SIEL Financial Services Limited) has announced significant changes to its board composition and ambitious plans for capital restructuring, as per the outcome of its board meeting held on November 11, 2025.

Key Board Changes

The company has made notable appointments to its leadership team:

• Mr. Amay Vatsalya has been appointed as Whole-Time Director
• Mr. Dhiraj Mishra has been appointed as Whole-Time Director and Chief Financial Officer

Both appointments are effective from November 11, 2025, subject to shareholder approval through postal ballot. The board also noted the resignation of Director Aveen Kaur Sood and the previous Chief Financial Officer.

Significant Capital Restructuring

CMX Holdings has proposed a substantial increase in its authorized share capital:

This massive increase in authorized capital, subject to shareholder approval, signals the company's intentions for significant expansion or potential fundraising activities in the near future.

Registered Office Relocation

The board has approved a proposal to shift the company's registered office from Madhya Pradesh to Maharashtra. This move is subject to shareholder approval through postal ballot and necessary regulatory approvals, including that of the Central Government.

Expansion into New Business Areas

In a strategic move to diversify its business portfolio, CMX Holdings has approved amendments to the Memorandum of Association's object clause. The proposed changes include:

1. Entering the FMCG (Fast-Moving Consumer Goods) sector
2. Undertaking solar projects for clients, consumers, and third parties
3. Providing services related to renewable energy and power generation

These amendments are aligned with the company's evolving business model and future expansion plans, subject to shareholder approval.

Upcoming Financial Results

The company has scheduled a board meeting for November 14, 2025, to consider and approve the unaudited financial results for the quarter and half-year ended September 30, 2025.

CMX Holdings Limited's comprehensive restructuring and expansion plans reflect a strategic shift in the company's focus. Shareholders and market observers will be keenly watching how these changes translate into business growth and financial performance in the coming quarters.

Mr. Amay Vatsalya has announced an open offer to acquire up to 29,49,500 equity shares, representing 26% of CMX Holdings Limited (formerly SIEL Financial Services Limited), at ₹9.70 per share. This move follows a share purchase agreement to acquire a controlling stake in the company.

Key Details of the Open Offer

• Offer Price: ₹9.70 per equity share
• Number of Shares: Up to 29,49,500 equity shares (26% stake)
• Total Consideration: ₹2,86,10,150.00
• Tendering Period: September 30, 2025 to October 14, 2025

Background of the Transaction

The open offer has been triggered by a share purchase agreement between Mr. Vatsalya and the current promoter, Mrs. Aveen Kaur Sood. Under this agreement, Mr. Vatsalya will acquire 58,70,902 shares (51.75% stake) from Mrs. Sood at ₹7.00 per share.

About the Acquirer

Mr. Amay Vatsalya, 27, holds a Bachelor of Business Administration degree from Amity University, Uttar Pradesh. He has about 5 years of experience in operation management, export logistics, and sales & marketing.

Impact on CMX Holdings

Currently, CMX Holdings is not carrying out active business operations but has income from financial services. The change in control may lead to potential changes in the company's operations and management.

Regulatory Compliance

The open offer is mandatory under SEBI regulations and is unconditional with no minimum acceptance level. The acquirer has deposited ₹1,15,00,000.00 in an escrow account to demonstrate the ability to fulfill the offer obligations.

Implications for Shareholders

Eligible shareholders of CMX Holdings have the opportunity to tender their shares at ₹9.70 per share during the offer period. This represents a premium over the price at which the controlling stake is being acquired from the promoter.

Future Outlook

While specific plans have not been disclosed, the acquisition may lead to changes in CMX Holdings' business strategy and operations. Shareholders and market observers will be watching closely for any announcements regarding the company's future direction under new management.

The open offer provides an exit opportunity for existing shareholders at a fixed price, while potentially marking the beginning of a new chapter for CMX Holdings under Mr. Vatsalya's leadership.