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RPSG Ventures Announces Key Updates Following Board Meeting
Boost in Authorized Share Capital and New Equity Issues Approved
Kolkata, July 28, 2024 — In a significant move to bolster its financial structure, RPSG Ventures Limited announced several key decisions following its board meeting held on July 28, 2024. The company has approved an increase in its authorized share capital and the issuance of new equity shares on a preferential basis, among other critical resolutions.
Increase in Authorized Share Capital
Details of the Capital Boost
- Previous Authorized Share Capital: Rs. 65 Crores
- New Authorized Share Capital: Rs. 100 Crores
The increase in authorized share capital will provide RPSG Ventures with more flexibility to raise funds for future growth and expansion.
Preferential Issue of Equity Shares
Key Details of the Preferential Issue
- Number of Shares: 53,60,951 fully paid-up equity shares
- Face Value per Share: Rs. 10/-
- Issue Price per Share: Rs. 560/- (including Rs. 550/- as premium)
- Total Amount Raised: Rs. 300.21 Crores
The preferential issue is targeted at identified investors and is subject to shareholder and regulatory approvals.
Bonus Share Issue
Details of the Bonus Share Issuance
- Bonus Ratio: 1:1
- Eligibility: Equity shareholders as on the Record Date to be determined by the Board
The bonus issue will be executed by capitalizing reserves, effectively doubling the number of shares held by each eligible shareholder.
Extraordinary General Meeting (EGM)
EGM Details
- Date: August 22, 2024
- Purpose: To seek shareholder approval for the aforementioned agenda items
- Notice: The notice for the EGM will be submitted to stock exchanges in compliance with SEBI regulations.
Appointment of New Statutory Auditor
Auditor Details
- New Auditor: M/s. M S K A & Associates
- Term: Five years, starting from the next AGM until the 36th AGM in FY 2029-30
The appointment is to replace the retiring statutory auditor, ensuring continued compliance with the Companies Act, 2013.
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