Orchasp Appoints 3 Directors, Approves Preferential Issue of ₹7.11 Crore Equity Shares
Orchasp Limited's board approved the appointment of three directors and a preferential issue of up to 1.5 crore equity shares worth ₹7.11 crore. The company also scheduled its AGM for September 30, 2026.
The appointment of new directors and a preferential issue are significant corporate actions that can impact the company's governance and financial structure.
The company has approved key appointments of directors and a preferential issue which will bring in funds, indicating positive corporate actions.
Orchasp Limited announced the outcome of its Board Meeting held on August 31, 2026. The board approved the appointment of three new directors: Mrs. Sirisha Pattapurathi as Non-Executive, Non-Independent Director, and Mr. Srinivasu Sunkara and Mr. Ravi Prasad Muthyam as Independent Directors. These appointments are subject to shareholder approval at the upcoming Annual General Meeting (AGM).
The board also approved the conversion of a loan from Wahtulmsylh Limgawlat (Promoter Group) through a preferential issue of up to 1,50,00,000 equity shares. Each share will have a face value of ₹2 and an issue price of ₹4.74, including a premium of ₹2.74 per share. This preferential issue aggregates up to ₹7.11 crore (71,100,000). This issuance is in accordance with SEBI regulations and is subject to shareholder approval.
Furthermore, the company announced its Annual General Meeting (AGM) will be held on Wednesday, September 30, 2026, via audio-video conferencing. The relevant date for the preferential issue, as per SEBI regulations, was determined as Friday, August 28, 2026.
A plain-language summary of a public exchange filing by Orchasp Limited. Read the original for the full detail.