Event Date: N/A
National Stock Exchange of India Limited (NSE) issued a notice of Postal Ballot to its members pursuant to Sections 108 and 110 of the Companies Act, 2013, and related rules and regulations. Voting begins on Saturday, May 25, 2024, at 9:00 a.m. (IST) and ends on Sunday, June 23, 2024, at 5:00 p.m. (IST). The notice concerns two special business items to be transacted through a remote e-voting process.
Special Businesses to be voted on:
Increase of Authorised Share Capital and Alteration of Memorandum of Association: Members are asked to approve increasing the authorized share capital from Rs. 50,00,00,000 (Rupees Fifty Crores Only) divided into 50,00,00,000 (Fifty Crores) Equity Shares of Re. 1/- (Rupee One) each to Rs. 500,00,00,000 (Rupees Five Hundred Crores Only) divided into 500,00,00,000 (Five Hundred Crores) Equity Shares of Re. 1/- (Rupee One) each and to alter Clause V of the Memorandum of Association accordingly. The revised clause would state: “V. The Authorized Share Capital of the Company is Rs. 500,00,00,000/- (Rupees Five Hundred Crores only) divided into 500,00,00,000 (Five Hundred Crores) equity shares of Re. 1/- (Rupee One only) each, with power to increase and reduce the capital of the Company.” This alteration is contingent upon SEBI approval and adherence to Regulation 42 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018. The Managing Director & CEO or the Chief Financial Officer or the Company Secretary are authorized to handle the application with regulatory authorities.
Issue of Bonus Shares by Capitalization of Reserves: Members are asked to approve the capitalization of a sum not exceeding Rs. 198,00,00,000/- (Rupees One Hundred and Ninety Eight Crores only) from the ‘Securities Premium Account’ and ‘Free Reserves’ of the company, as per the audited financial statements for the year ended March 31, 2024, to issue bonus equity shares of Re. 1/- (Rupee One) each to eligible members. The bonus issue ratio is 4:1 (4 new equity shares for every 1 existing equity share). The new equity shares will be issued in dematerialized form and rank pari passu with existing shares. This resolution is also contingent upon shareholder and SEBI approval for the alteration in the Memorandum of Association.
Voting and Scrutiny:
The company is providing remote e-voting facility via National Securities Depository Limited (NSDL). The Board has appointed Ms. Ashwini Inamdar or, failing her, Ms. Alifya Sapatwala, Partners of Mehta & Mehta, Practising Company Secretaries, as the Scrutinizer. The Scrutinizer will submit a report to the Company Secretary. Results will be published on the company website and NSDL website, and on the notice board at the Registered Office.
Important Dates:
Notes and Instructions:
The explanatory statement pursuant to Section 102 of the Companies Act, 2013 details the rationale behind both resolutions. The increase in authorized share capital is needed to facilitate the bonus issue. Issuance of bonus shares in the ratio of 4:1 is proposed to reward its shareholders. The bonus issue requires an increase in authorized share capital which requires SEBI approval. The approval date cannot be ascertained but the company intends to suspend ISIN and conduct a book closure for 30 days. The table provides a tentative schedule for ascertaining the record date with ‘T Day’ being the Approval Date. Further, details of pre- and post-bonus paid-up share capital are mentioned. Pre-bonus the number of equity shares was 49,50,00,000 and the share capital was Rupees 49,50,00,00,000. Post-bonus it will be 247,50,00,000 equity shares and the share capital will be Rupees 247,50,00,000.
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Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.
You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.
The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.
Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.
To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.
Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.
The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.
Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.
It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
