Shivamshree Businesses Ltd Board Decides to Withdraw Preferential Allotment and Reschedules 43rd AGM

Shivamshree Businesses Ltd Board Decides to Withdraw Preferential Allotment and Reschedules 43rd AGM​

Shivamshree Businesses Limited announced several key decisions following its meeting of the Board of Directors held on Friday, June 12, 2026. The Board unanimously approved the cancellation of a proposed equity issue, adopted annual reports, and formally rescheduled the company's upcoming Annual General Meeting (AGM).

During the board meeting, the directors reviewed and sanctioned the comprehensive Board’s Report, along with all associated statutory documents for the Financial Year ended March 31, 2026. These approved materials include the Management Discussion and Analysis Report, the Secretarial Audit Report, and the Corporate Governance Report.

Preferential Allotment Withdrawn​

A significant outcome of the meeting was the decision to withdraw and cancel the proposed preferential allotment of up to 14,350,000 Equity Shares. The Board determined that proceeding with the issue at that time would not be conducive to the company's value creation objectives. This decision followed a thorough re-evaluation driven by macroeconomic volatility in the market environment and prevailing capital market conditions, coupled with feedback from proposed allottees regarding strategic constraints.

43rd AGM Rescheduled​

The Board of Directors formally resolved to cancel the previously scheduled 43rd Annual General Meeting (AGM), which was slated for June 29, 2026. In adherence to statutory notice requirements, the board convened and scheduled a new date for the 43rd AGM on Tuesday, July 07, 2026. The meeting will be held at 11:30 A.M. (IST) via Video Conferencing (VC) or Other AudioVisual Means (OAVM).

The ordinary business to be transacted at the rescheduled AGM includes the adoption of the Audited Financial Statements for the Financial Year ended March 31, 2026, along with all relevant Reports from the Board and Auditors.

Revised Book Closure and E-voting Schedule Announced​

In light of the AGM rescheduling, the previously intimated Book Closure and Cut-off dates were formally withdrawn. The Board unanimously approved revised schedules for book closure and remote e-voting to ensure proper statutory procedures are followed.

The key timelines established by the Board are as follows:


The revised Draft Notice for the 43rd Annual General Meeting, covering only ordinary business, was approved by the Board and is ready for statutory dispatch to shareholders.

The meeting of Shivamshree Businesses Limited commenced at 05:00 P.M. (IST) and concluded at 05:35 P.M. (IST).

Stock Price Movement​

Shivamshree Businesses Ltd settled at ₹2.19 on Monday, having shed 4.78% in value after trading was restricted due to a GSM notice. The shares remained completely flat throughout the session, remaining locked at the ₹2.19 level.