7NR Retail Ltd Announces Acquisition of CJPL and Increases Authorized Capital by Rs 90 Crore
7NR Retail Ltd has announced several significant corporate decisions following a recent Board meeting, including the acquisition of M/s. Cultureantique Jewellery Private Limited (CJPL) and a substantial increase in its authorized share capital. The company also approved key strategic changes to its Memorandum of Association and appointed a new internal auditor.The company acquired 100% equity holding of CJPL for a total consideration of Rs 90,00,00,000 (Rupees Ninety Crore Only). This acquisition will make CJPL the wholly-owned subsidiary of 7NR Retail Limited. The purchase was executed through a share swap, where the company agreed to issue up to 9,00,00,000 fully paid-up equity shares with a face value of Rs 10 per share.
Details of the acquisition are summarized below:
| Particulars | Target Entity Details |
|---|---|
| Acquired Company Name | M/s. Cultureantique Jewellery Private Limited (CJPL) |
| Total Consideration for Acquisition | Rs 90,00,00,000 (Rupees Ninety Crore Only) |
| Number of Shares Issued by 7NR Retail Ltd | Up to 9,00,00,000 Equity Shares |
| Price Per Share for Swap | Rs 100 per equity share |
| Acquired Stake | 100% |
Strategic Expansion and Capital Restructuring
The Board meeting also considered a major increase in the authorized equity share capital. The company's existing authorized capital, previously set at Rs 28,00,68,000 (divided into 2,80,06,800 Equity Shares of Rs 10 each), will be increased to Rs 1,18,00,68,000 (divided into 11,80,06,800 Equity Shares of Rs 10 each). This increase involves the addition of Rs 90,00,00,000 to the existing authorized share capital and is subject to approval by the shareholders at the Annual General Meeting.Further, the company decided to alter the object clause of its Memorandum of Association (MOA) to expand its business activities. The alteration involves inserting a new main object related to dealing in gold, silver, bullion, precious and semi-precious metals, jewelry, ornaments, diamonds, gems, and allied products, among other manufacturing and trading activities.
Governance and Future Plans
The company approved the Director's Report for the financial year 2025-26 and decided to hold its 14th Annual General Meeting (AGM) on Friday, August 7, 2026. The AGM will be conducted via Video Conferencing or Other AudioVisual Means.In a governance update, M/s. Soni and Patel, Chartered Accountants, were appointed as the Internal Auditor for the Financial Year 2026-27. This appointment is effective from July 8, 2026.
The company also received a request letter regarding the reclassification of Mr Umang Vijaykumar Trivedi’s status from the 'Promoter category' to 'Public category', subject to approval by BSE Limited.
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