Hardwyn Board Approves Acquisition, Capital Increase, Preferential Allotment, and Auditor Changes
Hardwyn's board approved acquiring Fiba Hardwyn Locks, increasing authorized capital to ₹55 crore, preferential share allotment, and appointing new Secretarial and Statutory Auditors.
The board's decisions involve a strategic acquisition, a substantial increase in authorized capital, and a significant preferential share allotment, all of which have a high potential to impact the company's financial structure, ownership, and business growth trajectory.
The approvals for a strategic acquisition, an increase in authorized share capital, and a preferential share allotment indicate positive growth and expansion initiatives for the company.
* Hardwyn India Limited's Board of Directors met on 15 October 2025 and approved several key matters, including: * Allotment of equity shares through preferential basis by virtue of a swap. * Appointment of M/s. Amit Saxena & Associates as Secretarial Auditors for a period of five years, starting from 1 April 2025 to 31 March 2030, subject to approval of the shareholders at the ensuing AGM. * Appointment of M/s. S.S Periwal & Company as Statutory Auditor for five consecutive years, from the conclusion of the 8th Annual General Meeting until the conclusion of the 13th Annual General Meeting, subject to shareholder approval in the ensuing 8th AGM. * Increase in authorized share capital from ₹50 crore to ₹55 crore, with a consequential alteration of the Memorandum of Association, subject to shareholder approval. * Approval of the Notice of Annual General Meeting and the Director's Report along with applicable annexures for the financial year ended on 31 March 2025. * The company is acquiring Fiba Hardwyn Locks Limited, taking a 33.50% stake (22,06,674 equity shares) at a cost of ₹184 per share through a share swap. Fiba Hardwyn Locks Limited is engaged in hardware manufacturing and reported a turnover of ₹4365.61 lakh for FY 2024-2025, ₹3977.23 lakh for FY 2023-2024, and ₹3959.21 lakh for FY 2022-2023. * The preferential allotment involves issuing 2,53,76,751 equity shares for a total consideration of ₹4,66,93,22,184 to proposed investors, which would result in a combined post-issue shareholding of 46.55% for these investors.
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Hardwyn India Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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