Hemant Surgical Industries Limited , a company listed on the Bombay Stock Exchange (BSE: 543916), has announced significant changes to its board of directors following a board meeting held on August 28, 2025. The company has appointed a new independent director while accepting the resignation of another due to health reasons.

New Appointment

Mr. Manish Kankani has been appointed as an Additional Director in the category of Non-Executive Independent Director, subject to shareholder approval. His appointment is for a term of five years, from August 28, 2025, to August 27, 2030.

Mr. Kankani brings a wealth of experience to the board:

• Practicing Chartered Accountant with 10 years of experience in auditing, taxation, and financial advisory
• Deep expertise in the audit and regulatory framework governing Non-Banking Financial Companies (NBFCs)
• Specialization in statutory, internal, and tax audits, with a strong focus on NBFCs and income tax matters
• Led numerous audit engagements across a wide spectrum of NBFCs and corporate clients
• Expertise in assessing the integrity of financial statements, internal controls, and risk frameworks, helping clients achieve regulatory compliance and operational efficiency

Resignation

The board has accepted the resignation of Mr. Ketan Chandrakant Dave as an Independent Director, effective August 28, 2025. Mr. Dave cited health issues as the reason for his departure. In his resignation letter, Mr. Dave confirmed that there were no other material reasons for his resignation beyond the stated health concerns.

Other Board Decisions

The board meeting, which lasted from 12:30 p.m. to 1:30 p.m., resulted in several other key decisions:

1. Approval of the Directors' Report and Management Discussion and Analysis Report for the financial year ended March 31, 2025
2. Scheduling of the 36th Annual General Meeting for September 23, 2025
3. Appointment of auditors for the financial year 2025-2026:
   • M/s. ADMS and Company as internal auditor
   • M/s. NKM and Associates as secretarial auditor
   • M/s. K Sorathiya & Co as cost auditor

These appointments and changes reflect Hemant Surgical Industries' commitment to maintaining strong corporate governance and ensuring diverse expertise on its board. The addition of Mr. Kankani, with his extensive experience in finance and auditing, particularly in the NBFC sector, is expected to bring valuable insights to the company's operations and financial strategies.

The company has duly informed the BSE Limited of these developments in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Hemant Surgical Industries Limited , a Mumbai-based medical equipment manufacturer, has announced an ambitious fundraising initiative totaling Rs. 92.59 crore through a preferential issue of equity shares and convertible warrants. The company's Board of Directors approved this significant move on August 6, 2025, aiming to bolster its financial position and support future growth plans.

Equity Share Issuance

The fundraising plan includes the issuance of up to 26 lakh equity shares at Rs. 197.00 per share, which is expected to raise Rs. 51.22 crore from non-promoter investors. This represents a premium of Rs. 187.00 per share over the face value of Rs. 10.00.

Convertible Warrants

Additionally, the company plans to issue 21 lakh convertible warrants at Rs. 197.00 each, potentially raising another Rs. 41.37 crore. These warrants will be offered to both promoter and non-promoter categories and can be converted into equity shares within 18 months from the date of allotment.

Key Investors

The preferential issue has attracted a mix of institutional and individual investors. Notable participants include:

Among the promoter group, Hemant Praful Shah, Hanskumar Shamji Shah, and Kaushik Hanskumar Shah are each set to receive 2,00,000 convertible warrants.

Payment Structure for Warrants

Investors will pay 25% of the warrant price at allotment, with the remaining 75% due upon conversion to equity shares. This structure provides flexibility for both the company and the investors.

Increase in Authorized Capital

To accommodate this expansion, the Board has also approved increasing the company's authorized capital to Rs. 16.00 crore, subject to shareholder approval.

Shareholder Approval and EGM

Both the fundraising proposal and the increase in authorized capital require shareholder approval. An Extraordinary General Meeting (EGM) has been scheduled for August 30, 2025, to be held via video conferencing.

Impact on Shareholding

Post-issuance and assuming full conversion of warrants, the company's promoter shareholding is expected to decrease from approximately 70.53% to 52.59%. This will result in a more diversified ownership structure, potentially improving liquidity in the stock.

This fundraising initiative represents a significant step for Hemant Surgical Industries, potentially providing the company with the capital needed for expansion and operational improvements.