1. QIP equity raise of up to ₹100 cr - The board is seeking shareholder approval to raise up to ₹100 crore through a Qualified Institutions Placement, to be completed within 365 days of the resolution. An institutional raise of this size, against a current market cap of ₹331 cr, would provide the capital base to fund the newly approved diversification into metals, mining, and battery materials at meaningful scale.
2. Change of control and preferential allotment completed - Shrey Gupta has acquired 51.1% of the pre-issue equity from the promoter seller and was allotted 53,00,000 shares in the preferential issue at ₹11 per share, giving him 40.3% of the expanded equity capital. The ₹10.5 cr preferential allotment, approved and listed by July 2025, brings fresh working capital and a new controlling shareholder whose stated intent is business expansion into high-growth industrial sectors.
3. Objects clause amended for non-ferrous metals, battery materials, and mining - The company has altered its Memorandum of Association to permit operations in non-ferrous metals, alloys, battery raw materials, mining and beneficiation of metallic minerals, and precious stones and jewellery. This legal restructuring clears the path to enter sectors tied to electrification, critical minerals policy, and export demand, moving the company beyond its legacy paper and foil trading business.
4. Management build-out for new verticals - The company has appointed Shrey Gupta as Managing Director, a new CFO with 32 years of experience, and additional directors covering technical and independent roles, while actively recruiting mining, metallurgy, and chemical industry professionals. A reconstituted board and specialist team signal that the operational groundwork for the diversification is being laid alongside the regulatory approvals.
5. Share split and authorised capital increase on the agenda - The board will consider a sub-division of equity shares alongside an increase in authorised share capital from ₹17 cr to ₹25 cr, as announced on 6 July 2026. A split would broaden the shareholder base and improve liquidity, supporting the larger institutional fundraise and making the stock more accessible as the company scales into new businesses.