Exhiconevents Approves Preferential Issue of Warrants and Appoints New Statutory Auditor
The Board of Directors of Exhiconevents Media Solutions Limited held a meeting on July 07, 2026, approving several key corporate actions, including the preferential issue of equity convertible warrants and the appointment of a new statutory auditor.Key outcomes approved by the Board included the issuance of 5,00,000 Warrants (Equity Convertible Warrants) through a preferential allotment process. The decision involves offering these warrants at an issue price of Rs. 479/- per warrant, which incorporates a premium of Rs. 469/-, to the company's promoters.
The preferential issuance is set to aggregate up to Rs. 23,95,00,000/- and remains subject to approval by Shareholders at the forthcoming Extra Ordinary General Meeting (EOGM), along with other statutory requirements.
Details of the proposed warrant issue are as follows:
| Particular | Details |
|---|---|
| Type of Securities Proposed | Warrants fully convertible into Equity Shares |
| Total Quantity Proposed | 5,00,000 Warrants |
| Issue Price per Warrant | Rs. 479/- (including premium of Rs. 469/-) |
| Issuance Type | Preferential Issue |
The list of proposed preferential allottees for the warrants includes Mohammad Quaim Syed, who is allotted 500,000 Warrants. The warrants will have a conversion tenure of 18 months from the date of allotment.
New Statutory Auditor Appointment and Corporate Governance
In addition to the warrant issue, the Board approved the appointment of M/s Bilimoria Mehta & Co. as the company's Statutory Auditor. This selection follows the resignation of M/s Piyush Kothari & Associates. The new auditor will serve for a term of five consecutive financial years, spanning from 2026-27 to 2030-31, pending shareholder approval at the EOGM.Bilimoria Mehta & Co., a firm established in 1977 with offices in Mumbai, Delhi, and Bangalore, provides services ranging from statutory audits and limited reviews to internal audit implementation and IPO assurance services.
The Board meeting also approved the notices for the Extra Ordinary General Meeting (EOGM) and determined the necessary date, time, and venue for the event. Furthermore, M/s Pratik Bangade & Associates has been appointed as the Scrutinizer responsible for conducting the e-voting and poll process at the EOGM.
The Board meeting commenced at 01:00 P.M. and concluded at 02:00 P.M.
JPPOWER Stock Price Movement
As of 3:03 PM, shares of Jaiprakash Power Ventures Limited are shedding 0.90% in live trading, currently standing at ₹17.53 as the stock edges lower against previous close. The equity trades through a volume of approximately 37 million shares, reflecting continued selling pressure in the power generation sector.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.
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