Shivansh Finserve Ltd Approves Fund Raising, Name Change, and Broadened Energy & Drone Objectives

Shivansh Finserve Ltd Approves Fund Raising, Name Change, and Broadened Energy & Drone Objectives​

Shivansh Finserve Ltd, formerly known as Mansarovar Financial Services Limited, announced that its Board of Directors held a meeting on April 14, 2026. During the meeting, the board considered and approved several strategic proposals related to fundraising, capital structure, and the company's core business objectives.

Key Operational Decisions​

The Board’s discussions focused on three primary areas: fundraising through a preferential issue, increasing the authorized share capital, and altering the company’s name and main objects clause.

1. Preferential Issue for Fundraising
The board discussed the proposal to raise funds by issuing equity shares on a preferential basis. The directors noted that the definitive terms of this preferential issue, including pricing, the size of the issue, and the full list of proposed allottees, must be finalized and approved at a subsequent Board Meeting.

2. Increase in Authorized Share Capital
In addition, the company considered the proposal to increase its Authorized Share Capital. It was decided that the details of this increase would be finalized in the next Board Meeting, following the successful conclusion of the preferential issue.

3. Change of Name and Alteration of Object Clause
The board also reviewed the proposal for changing the company's name and altering the main objects clause of the Memorandum of Association. The proposed name deliberated upon, subject to availability and Registrar of Companies approval, is Indeed Energy Limited.

The main objects of the company were also reviewed and approved. These expanded objectives cover two major sectors:

* Energy and Power: To conduct the business of generation, production, transmission, distribution, trading, and supply of power and energy from both renewable and non-renewable sources. This includes solar, wind, hydro, geothermal, biomass, and other alternative energy sources. The company is authorized to design, develop, manufacture, install, operate, and maintain solar power systems, photovoltaic modules, wind turbines, hybrid energy systems, and energy storage solutions. This also encompasses undertaking Engineering, Procurement, and Construction (EPC) contracts and providing technical consultancy in the energy and sustainability field.

* UAV and Drone Applications: To carry on the business of manufacturing, assembling, importing, exporting, leasing, hiring, servicing, and dealing in unmanned aerial vehicles (UAVs), drones, and related components, software, and technologies. These activities are strictly for non-defence and civilian applications, including agriculture, surveying, mapping, logistics, inspection, monitoring, and research.

The company also affirmed its general authority to provide allied services, consultancy, and solutions, and to undertake all incidental and ancillary activities necessary for achieving these defined objects.

Stock Price Movement​

At the close of trade on Monday, Shivansh Finserve Ltd settled at ₹10.19, pushing shares up by 5.60% for the day. Throughout the session, shares exhibited considerable movement, trading between a low of ₹8.70 and an intraday high of ₹11.19.

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