ARSS Infrastructure Projects Ltd Increases Authorized Share Capital to Rs 500 Crore; Appoints New Compliance Officer
ARSS Infrastructure Projects Ltd has announced several significant corporate actions following a Board meeting held on July 23, 2026. The company approved a substantial increase in its authorized share capital and made key appointments related to compliance and management.The Board decisions included the appointment of Mr. Rajendra Biswal as Company Secretary and Compliance Officer (KMP) effective July 23, 2026. Furthermore, the company approved an increase in its Authorized Share Capital.
Changes in Authorized Share Capital and Capital Structure
The authorized share capital of ARSS Infrastructure Projects was increased from Rs. 110 Crore to Rs. 500 Crore. This expansion involves a revised composition of both equity and preference shares, subject to shareholder approval.The change details are as follows:
| Clause | Existing Authorized Share Capital | Revised Authorized Share Capital (Subject to Approval) |
|---|---|---|
| Amount | Rs. 110 Crore | Rs. 500 Crore |
| Equity Shares | 11 Crore shares of Rs. 10/- each | 23 Crore Equity Shares of ₹10/- each |
| Preference Shares | Not specified in existing structure | 27 Crore Preference Shares of ₹10/- each |
New Key Management Appointment
Mr. Rajendra Biswal was appointed as the Company Secretary and Compliance Officer (KMP) effective July 23, 2026. Mr. Biswal holds Membership No. A76448 with the Institute of Company Secretaries of India (ICSI). He has experience in corporate secretarial, legal, and compliance functions, managing Board processes and ensuring adherence to regulatory requirements.Related Party Transactions and Preferential Issue
The company approved several transactions involving Ocean Capital Market Limited, one of its promoters:1. Material Related Party Transaction: A material transaction was approved with Ocean Capital Market Limited, subject to shareholder approval.
2. Issue of Preference Shares: The Board also cleared the offer and issue of 250 million non-cumulative non-convertible redeemable preference shares (NCRPS) to Ocean Capital Market Limited on a private placement basis, pending shareholder approval.
Details regarding the issuance of these non-convertible securities are summarized below:
| Feature | Details |
|---|---|
| Type of Securities | Non-Cumulative Non-Convertible Redeemable Preference Shares |
| Investor | Ocean Capital Market Limited (Promoter) |
| Total Issue Size | 250.00 Crore |
| Face Value | Rs. 10 per share |
| Coupon/Interest Offered | 0.01% p.a. dividend, non-cumulative |
| Tenure of Instrument | 22 months from the date of allotment for each tranche |
| Redemption | At the end of the tenure at a premium equivalent to provide an IRR of 12% per annum |
| Charge/Security | The Preference Shares are unsecured and do not carry any charge on the assets of the Company. |
Postal Ballot and E-voting Details
The Board approved the convening of a Postal Ballot for shareholder approval. Additionally, the company approved the services of NSDL to facilitate remote e-voting. Shareholders can participate in the voting process according to the following schedule:| Event Detail | Date / Period |
|---|---|
| Cut-off date for determining Members entitled to vote | 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 to Chairman | Monday, August 31, 2026 |
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