Ashoka Metcast Shareholders Approve Authorized Share Capital Increase
Ashoka Metcast Limited has obtained shareholder approval to increase its authorized share capital from Rs. 75.00 crore to Rs. 95.00 crore. The resolution passed with 99.99% votes in favor through a postal ballot conducted via remote e-voting. The number of equity shares will increase from 7.5 crore to 9.5 crore, each with a face value of Rs. 10. The promoter group and public non-institutional shareholders showed strong support with 100% and 99.48% votes in favor, respectively. This increase provides the company with greater financial flexibility for potential future initiatives.