The Board of Directors of KCD Industries India Limited at its meeting held on Saturday, September 10, 2022 i.e., today at 1:30 p.m. (Indian Standard Time) have considered and approved the increase in the Authorized Share Capital of the Company from Rs. 2,50,00,000/- (Rupees Two Crore Fifty Lakh Only) to Rs. 20,00,00,000/- (Rupees Twenty Crores only) and consequent alteration of the Memorandum of Association of the company, subject to the approval of members.
The board also approved proposal to raise up to Rs. 49,00,00,000/- (Rupees Forty-Nine Crores only) through Rights issue of Equity Shares.