Geetanjali Credit and Capital Ltd Announces Plans to Raise Rs. 90 Crore via Rights Issue
Geetanjali Credit and Capital Limited has announced a significant proposal to raise funds through the issuance of equity shares, alongside plans to substantially increase its authorized share capital. The company confirmed these developments during its board meeting held on July 16, 2026.Expansion of Authorized Share Capital
The Board has approved an increase in the company's authorized share capital from the existing Rs. 10,00,00,000 (Rupees Ten Crores) to Rs. 100,00,00,000 (Rupees One Hundred Crores).The current capital structure consists of 10,00,000 equity shares with a face value of Rs. 10 each. The proposed expanded structure will consist of 1,00,00,000 equity shares with the same face value of Rs. 10 each. This change in the capital clause of the Memorandum of Association remains subject to shareholder approval at the upcoming Annual General Meeting.
Rights Issue Proposal for Fund Raising
The company plans to raise funds through a rights issue of equity shares having a face value of Rs. 10 each. The total aggregate amount for this issuance is expected not to exceed Rs. 90 Crore.Key details regarding the fund raising include:
- Eligibility: The issue will be offered to eligible equity shareholders as of a future record date.
- Execution: A "Right Issue Committee," a sub-committee of the Board, has been authorized to manage all matters related to the issuance, including finalizing terms and conditions and the specific number of shares to be issued.
- Intermediaries: The company has appointed various intermediaries to facilitate the proposed rights issue.
Leadership Changes and Governance Updates
The company announced the resignation of Mr. Mukesh Gupta from his position as Non-Executive Independent Director, effective July 16, 2026. He cited pre-occupancy as the reason for his departure and confirmed there are no other material reasons for his resignation.Additionally, the Board has approved the reconstitution of various board committees and reviewed the Director's Report for the financial year 2025-26.
Upcoming Annual General Meeting
The company has scheduled its 36th Annual General Meeting (AGM) to take place on August 21, 2026, at 01:00 PM (IST). The meeting will be conducted via Video Conferencing or other Audio-Visual Means.| Category | Details |
|---|---|
| Proposed Issue Size | Up to Rs. 90 Crores |
| Security Type | Equity Shares |
| Type of Issuance | Rights Issue |
| AGM Date | August 21, 2026 |
| Board Meeting Duration | 05:30 PM to 06:30 PM (July 16, 2026) |
Stock Price Movement
Geetanjali Credit and Capital Ltd settled at ₹7.73 on Monday, jumping 4.88% to close the session. The shares traded completely flat throughout the day, holding steady at ₹7.73 for both the high and low.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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