Durlax Top Surface Limited Approves Capital Raise via Warrants and Increased Director Remuneration
Durlax Top Surface Limited announced several key resolutions following its Board of Directors meeting held on Thursday, April 16, 2026. The board considered and approved matters concerning capital raising and the increase in remuneration for certain directors, pending requisite shareholder approval.The meeting, which commenced at 18:00 PM and concluded at 22:40 PM, focused primarily on securing funds and revising director compensation structures.
Preferential Issue of Fully Convertible Warrants
The board proposed raising funds by issuing and allotting up to 1,03,15,790 Fully Convertible Warrants (Warrants/Convertible Warrants) on a preferential basis. These warrants have a face value of Rs.10/- (Rupees Ten Each) and an issue price of Rs. 47.50/- (Rupees Forty-Seven and Fifty Paise Only) per warrant.The aggregated amount targeted from this issuance is Rs. 49,00,00,025/- (Rupees Forty-Nine Crores and Twenty-Five Only). The allotments are intended for the Promoter/Promoter Group and Identified Non-Promoter(s), subject to the approval of the shareholders.
The details of the proposed allotment are as follows:
| Name of the Proposed Allottee | Category | Maximum No. of Warrants Proposed to be Allotted |
|---|---|---|
| Shravan Laxmichand Suthar | Promoter | 50,00,000 |
| Lalit Laxmichand Suthar | Promoter | 31,26,896 |
| Pankaj Laxmichand Suthar | Promoter Group | 5,52,364 |
| Laxmichand Ladhaji Suthar | Promoter Group | 5,10,740 |
| Himanshu Bala | Non-Promoter | 2,90,000 |
| Manan Chamaria | Non-Promoter | 2,90,000 |
| Mantosh Kumar | Non-Promoter | 15,000 |
| Rajesh Chokhani | Non-Promoter | 15,000 |
| Charmi Shah | Non-Promoter | 40,000 |
| Sunita Agnelo Dmello | Non-Promoter | 40,000 |
| Abish Saji | Non-Promoter | 40,000 |
| Anand Chamaria HUF | Non-Promoter | 3,95,790 |
| Total | Total | 1,03,15,790 |
Increase in Director Remuneration
The board also approved, subject to shareholder consent, increases in the remuneration of two directors:1. Mr. Shravan Laxmichand Suthar, Managing Director: His remuneration is proposed to increase up to Rs. 1,20,00,000/- (Rupees One Crore Twenty Lakhs Only) per annum. This package includes salary, perquisites, benefits, incentives, and allowances, effective from April 01, 2026, to March 31, 2029.
2. Mr. Lalit Laxmichand Suthar, Whole-time Director: Similarly, his remuneration is proposed to increase up to Rs. 1,20,00,000/- (Rupees One Crore Twenty Lakhs Only) per annum. This compensation package is effective from April 01, 2026, to March 31, 2029.
The notice of the Extra-Ordinary General Meeting (EGM) has been set to be held on Tuesday, May 12, 2026, through Conferencing/Audio Visual Means, for the shareholders to approve the matters detailed above.
DURLAX Stock Price Movement
On Thursday, Durlax Top Surface Limited shares edged higher, closing at ₹50.6, marking a solid 0.40% gain. Trading on the stock was supported by a total volume of 34,000 shares.Source:
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.