New Markets Avenue Ltd Completes Warrant Conversion and Appoints Secretarial Auditor
New Markets Avenue Ltd (formerly New Markets Advisory Limited) announced several corporate developments including the conversion of warrants into equity shares and the appointment of a Secretarial Auditor for the financial year 2025-26.The company approved the conversion of 53,00,000 warrants into 53,00,000 Equity Shares of face value Rs. 10/- each at par on a preferential allotment basis. This action was taken following a Board meeting held on July 4, 2026.
The equity shares were allotted to five allottees:
- Mrs. Chhaya Gaurang Shah (Non-Promoter Public)
- M/s. Mamta Securities Private Limited (Non-Promoter Public)
- M/s. Spring Trade Mercantile Private Limited (Non-Promoter Public)
- Mr. Prakash Bhoorchand Shah (Non-Promoter Public)
- M/s. Plutus Capital Management LLP (Non-Promoter Public)
The total number of warrants held and applied for conversion amounted to 53,00,000, resulting in the allotment of 53,00,000 Equity Shares. The company has received in principle approval from BSE Limited regarding this action, dated October 20, 2025.
Appointment of Secretarial Auditor
In addition to the conversion announcement, the Board of Directors also approved the appointment of M/s. Ramesh Chandra Bagdi & Associates, Practicing Company Secretaries (Firm Registration No. S2021MP835800). This firm was appointed as the Secretarial Auditor for the Financial Year 2025-26.The company subsequently issued a clarification regarding a clerical error in the initial outcome of the Board Meeting, confirming that the financial year for which the audit is conducted is 2025-26, correcting an earlier mention of 2026-27.
Details pertaining to the appointed auditor are summarized below:
| Particular | Details |
|---|---|
| Name of Auditor | M/s. Ramesh Chandra Bagdi & Associates, Practicing Company Secretaries |
| Firm Registration No. | S2021MP835800 |
| Date of Appointment | July 4, 2026 |
| Term of Appointment | Financial Year 2025-26 |
| Brief Profile | The firm specializes in corporate laws, secretarial audit, corporate governance, SEBI compliances, FEMA compliances, due diligence, and allied corporate advisory services. |
Stock Price Movement
As of 14:16, New Markets Avenue Ltd shares are edging higher at ₹41.07, ticking up by 1.99%. The stock is currently trading completely flat, with the intraday high and low locked in at ₹41.07.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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