ARSS Infrastructure Projects Limited Increases Authorized Capital and Secures Financing through Preference Share Issuance
ARSS Infrastructure Projects Limited announced several key corporate actions following a Board meeting held on July 23, 2026. The decisions included expanding the company's authorized share capital, appointing new Key Managerial Personnel (KMP), and structuring a financing deal with one of its promoters, Ocean Capital Market Limited (OCML).Appointment of New Compliance Officer
The Board meeting approved the appointment of Mr. Rajendra Biswal as the Company Secretary and Compliance Officer (KMP), effective July 23, 2026.Mr. Rajendra Biswal holds Membership Number A76448 and is an Associate Member of the Institute of Company Secretaries of India (ICSI). His professional background includes extensive experience in corporate secretarial and legal functions, encompassing board and committee processes, regulatory liaison with various authorities, and ensuring compliance with applicable laws.
Details regarding the appointment are summarized below:
| KMP Name | Role | Date of Appointment | Key Qualification |
|---|---|---|---|
| Rajendra Biswal | Company Secretary & Compliance Officer (KMP) | July 23, 2026 | Associate Member, ICSI (A76448) |
Authorized Share Capital Increased to Rs. 500 Crore
The Directors approved a significant increase in the Authorized Share Capital of the company. The existing authorized capital of Rs. 110 Crore was increased to Rs. 500 Crore. This new capital structure is comprising two parts:- Equity Shares: Rs. 230 Crore, divided into 23 Crore Equity Shares at a face value of Rs. 10/- each.
- Preference Shares: Rs. 270 Crore, divided into 27 Crore Preference Shares at a face value of Rs. 10/- each.
The increase in authorized capital is subject to shareholder approval and entails the consequential alteration of Clause V of the Memorandum of Association.
Financing Deal with Ocean Capital Market Limited
The Board meeting also approved matters related to material related party transactions, specifically concerning the issuance of non-convertible preference shares to OCML, a promoter of the company. The private placement offer totaled 250.00 Crore to Ocean Capital Market Limited.Key details regarding the Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) are as follows:
| Feature | Details |
|---|---|
| Investor | Ocean Capital Market Limited (Promoter) |
| Type of Securities | Non-Cumulative Non-Convertible Redeemable Preference Shares |
| Total Size of Issue | 250.00 Crore |
| Number of Securities | Up to 25,00,00,000 shares (Face Value Rs. 10 per share) |
| Interest/Coupon Rate | 0.01% p.a. (Non-cumulative) |
| Tenure and Redemption | 22 months from the date of allotment; redeemed at a premium equivalent to an IRR of 12% per annum |
Shareholder Voting Details for Postal Ballot
The Board also approved the convening of a Postal Ballot to secure shareholder approval for these matters. The company confirmed the services of NSDL for facilitating remote e-voting, and set specific timelines for shareholders to cast their votes:| Event Detail | Date |
|---|---|
| Cut-off date for voting entitlement | Friday, July 24, 2026 |
| Commencement of remote e-voting | Friday, July 31, 2026 |
| End of remote e-voting | Saturday, August 29, 2026 |
| Scrutinizer consolidated report due date | Monday, August 31, 2026 |
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