Sadhana Nitrochem Ltd. to hold EGM on May 22, 2026, for share capital hike and director appointments.
Sadhana Nitrochem Limited will hold an EGM on May 22, 2026, to increase authorized share capital by ₹5 Crores. The meeting will also consider appointing Mrs. Sindhu Suneer Kotian as an independent director and continuing Mr. Asit Javeri as an executive director. A preferential allotment of 6.75 crore equity shares, raising ₹13.91 Crore, to Niraj Bajaj and Poorvi Milan Chitalia is also on the agenda.
The proposed increase in authorized share capital and the preferential allotment of shares are significant corporate actions that could impact the company's financial structure and ownership. The appointment of new directors and continuation of an existing one are also material events.
The announcement is a notice for an upcoming EGM to discuss several corporate actions including share capital increase, director appointments, and a preferential allotment. While these are important corporate actions, they are procedural and do not immediately indicate a positive or negative financial outcome without further details on the impact of these decisions.
Sadhana Nitrochem Limited has announced an Extra-Ordinary General Meeting (EGM) scheduled for Friday, May 22, 2026, at 2:00 PM IST, to be conducted through Video Conference (VC) / Other Audio Visual Means (OAVM).
The EGM will address several key business items. Firstly, the company proposes to increase its authorized share capital from ₹300 Crores to ₹305 Crores, involving an alteration of the Memorandum of Association. This increase will be divided into 305,00,00,000 Equity Shares of ₹1 each.
Secondly, the meeting will seek approval for the appointment of Mrs. Sindhu Suneer Kotian as a Non-Executive Independent Director for a term of five consecutive years, from March 07, 2026, to March 06, 2031. This appointment requires passing a Special Resolution.
Thirdly, the members will consider and approve the continuation of Mr. Asit Dhankumar Javeri as an Executive Director beyond the age of 70 years, with his existing tenure extended up to April 30, 2027. This also requires a Special Resolution.
Finally, the company plans to issue 6,75,00,000 equity shares to private investors, Niraj Bajaj and Poorvi Milan Chitalia, by way of preferential allotment. This issuance is expected to aggregate up to ₹13,90,50,000, at an issue price of ₹2.06 per share, or at a price determined by SEBI ICDR Regulations. The relevant date for determining the floor price is April 22, 2026. The allotment is subject to necessary approvals and will be completed within 15 days of receiving the last applicable approval.
The notice of the EGM, along with the Explanatory Statement, is being sent electronically to members. E-voting details have been provided, with the cut-off date for determining eligibility being May 15, 2026, and the remote e-voting period from May 19 to May 21, 2026.
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Sadhana Nitrochem Limited filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Sadhana Nitrochem Limited. Read the original for the full detail.