7NR Retail Limited Acquires CJPL for ₹90 Crore and Increases Authorized Equity Capital
A board meeting of 7NR Retail Limited resulted in several major corporate decisions, including the acquisition of M/s. Cultureantique Jewellery Private Limited (CJPL), an increase in the company's authorized equity share capital, and the approval of expanded business objects.The company announced that it has acquired a 100% equity stake in M/s. Cultureantique Jewellery Private Limited (CJPL). The total purchase consideration for the acquisition was set at ₹90,00,00,000. This acquisition will be finalized through a share swap mechanism, involving the issuance and allotment of up to 9,00,00,000 fully paid-up equity shares of 7NR Retail Limited having a face value of ₹10 per share. CJPL is set to become a subsidiary of 7NR Retail Limited following this transaction.
The board meeting also approved the alteration of the Memorandum of Association (MOA), allowing the company to expand its business operations. The amendment involves inserting a new clause into the Main Object Clause, which permits the engagement in activities such as manufacturing, importing, exporting, trading, and dealing in gold, silver, bullion, precious metals, jewelry, and related products.
Capital Structure Update
The meeting approved an increase in the Authorized Equity Share Capital of 7NR Retail Limited by ₹90,00,00,000. This capital augmentation changes the company’s structure from its previous authorized limits to a new higher figure, pending shareholder approval at the Annual General Meeting.The details regarding the authorized share capital are as follows:
| Category | Previous Authorized Capital Value (₹) | New Authorized Capital Value (₹) | Increase Amount (₹) |
|---|---|---|---|
| Equity Share Capital | 28,00,68,000 | 118,00,68,000 | 90,00,00,000 |
The increase shifts the authorized share count from 2,80,06,800 equity shares to 11,80,06,800 equity shares, both with a face value of ₹10 each.
Key Corporate Governance Decisions
In addition to the acquisition and capital structure changes, several operational and governance decisions were formalized:- Preferred Allotment: The board approved the offer, issue, and allotment of 9,00,00,000 equity shares on a preferential basis for the shareholders of CJPL. These shares are issued at a price of ₹10 per share.
- Auditor Appointment: M/s. Soni and Patel (FRN: 134652W) were appointed as the Internal Auditor for the Financial Year 2026-27, effective from July 8, 2026. The firm specializes in Tax Consultancy & Statutory Representations, Risk-Based Internal Audits, and Corporate Governance reviews.
- Annual General Meeting (AGM): The company decided to hold its 14th AGM on August 7, 2026.
The board also approved the Director’s Report for the financial year 2025-26.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.