Grovy India Board Approves Capital Hike, Preferential Issue of Equity Shares Ahead of AGM

Grovy India Board Approves Capital Hike, Preferential Issue of Equity Shares Ahead of AGM​

Grovy India Ltd. announced key resolutions passed during its Board of Directors meeting on June 09, 2026. The outcomes included increasing the company's Authorized Share Capital and approving a significant preferential issue to promoter and public categories. Furthermore, the board approved the draft notice for the upcoming Annual General Meeting (AGM).

The meeting addressed several strategic operational items, including capital structure changes, fundraising mechanisms, dividend recommendations, and governance appointments.

Major Changes in Capital Structure​

The Board reviewed and approved a significant alteration of the company's authorized share capital. The existing Authorized Share Capital (ASC) was previously set at ₹ 13,50,00,000 divided into 1,35,00,000 equity shares of ₹ 10/- each.

The new structure involves an increase in ASC to ₹ 25,00,00,000, which will be divided into 2,50,00,000 equity shares of ₹ 10/- each. This expansion is achieved through the creation of an additional 1,15,00,000 Equity Shares of ₹ 10/- each.

The proposed amendment to Clause V of the Memorandum of Association of Grovy India Ltd. is subject to approval by the members at the ensuing Annual General Meeting.

Preferential Issue Details and Financial Scope​

The Board also considered and approved the preferential issue of up to 41,69,433 Equity Shares of face value ₹ 10/- each for cash. This issuance targets entities belonging to both the Promoter & Promoters Group and the Public Category.

The company aims to raise up to ₹ 15,00,99,588/-, determined in accordance with relevant regulatory provisions. The issue price for these shares is set at ₹ 36/- per Equity Share.

A total of 19 entities were listed as proposed allottees for the preferential allotment:

Annual General Meeting and Dividend Recommendations​

The Board approved the draft notice for the company's 41st Annual General Meeting (AGM), which is scheduled to be held on Wednesday, July 08, 2026, at 03:00 P.M. The AGM will be conducted through Video Conferencing or other Audio-Visual means.

The remote e-voting period for the meeting has been set to commence on Sunday, July 05, 2026 (9:00 A.M.) and conclude on Tuesday, July 07, 2026 (5:00 P.M.).

In other resolutions passed during the meeting included:

• Dividend: Recommending a Final Dividend of @1% or ₹ 0.10/- per equity share for the financial year ended March 31, 2026, pending shareholder approval.
• Dates Fixed: The Record Date for determining entitlement to this final dividend was fixed as July 01, 2026.
• Book Closure: Book closure dates for the Register of Members and Share Transfer Registers were set from June 30, 2026, to July 08, 2026, for the AGM and dividend declaration purposes.

The Board members also approved the Director's Report and Annual Report for the financial year ended March 31, 2026. Furthermore, the re-appointment of Mrs. Anita Jalan, who retires by rotation, was approved, alongside the appointment of Mr. Akshit Gupta, an Advocate, to scrutinize the entire voting process at the AGM.

Stock Price Movement​

Grovy India Ltd settled at ₹42.50 at the close of trade today, edging higher by 1.82%. The shares traded within a solid range during the session, moving between a low of ₹41.60 and an intraday high of ₹43.90.