Himalaya Food International Ltd Board Approves Capital Increase, Financial Settlements
Himalaya Food International Ltd. held its Board of Directors meeting on April 7, 2026, via Video-conferencing mode. During the meeting, the board considered and approved several key business items impacting the company's capital structure and financial standing.The board took note of and approved the increase in the Authorised Share Capital of the Company. Furthermore, M/S Kumar Rupak & Associates was appointed as the Statutory Auditor of the Company.
Financial Approvals and Settlements
A significant part of the board's discussions involved financial matters related to loan settlements and fund raising. The board considered and approved final sanctions received from all four consortium banks on March 29, 2026, for the One Time Settlement (OTS) amounting to ₹43 Crores.Subsequently, the board ratified the release of ₹21.50 Crores to the consortium banks on March 30, 2026, in accordance with sanction letters received from the banks.
In terms of future funding, the board also considered and approved enabling provisions for raising funds. These provisions allow for the conversion, at the option of Promoters and/or any lenders, of outstanding loans as of March 31, 2026, and/or any further loans, up to the extent of ₹25 Cr into equity shares of the Company. Additionally, the board approved the issuance of equity shares or other eligible securities to promoters and/or eligible investors, including strategic investors, through permissible modes like a rights issue, preferential issue, or any other method, subject to applicable laws, regulatory approvals, and shareholder approval.
Operational and Governance Updates
The board noted that the Company has issued a formal Notice of Dispute to Simplot concerning the non-return of machinery, as required under the SIAC Final Award dated March 23, 2020.In addition to these matters, the board addressed corporate governance and future meetings. Key decisions included:
- The convening of an Extra-Ordinary General Meeting (EGM) of the Company's Members.
- Approving the draft Notice for calling the Extra-Ordinary General Meeting (EGM).
- Approving the appointment of a Scrutinizer to conduct the voting process at the Extra-Ordinary General Meeting (EGM).
For reference, the company's registered office is located at 118, 1st Floor, 12 Gagandeep Building. The company was formerly known as Himalya International Ltd.
Stock Price Movement
As of 10:19 AM, Himalaya Food International Ltd shares are edging higher at ₹9.28, up 3.69%. The stock has seen movement throughout the session, tracing a path between an intraday low of ₹8.97 and a high of ₹9.29.Source:
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