Navoday Enterprises Ltd to increase capital, acquire business through share swap

The board of directors of Navoday Enterprises Limited at its meeting held on Wednesday, 04th January, 2023 at its Registered Office at B-713, 7th Floor, Crystal Plaza New Link Road Opposite Infinity Shopping Mall, Andheri West Mumbai MH 400053 at 6:45 P.M. and concluded at 09:00 P.M, at has considered and Approved increase in Authorize Share Capital of the Company from 25,00,00,000/-(Rupees Twenty Five Crores) to 50,00,00,000/-(Rupees Fifty Crores) subject to members approval in Extra-Ordinary General Meeting.

The board approved alteration in the Capital Clause of MOA of the Company, subject to member's approval in Extra-Ordinary General Meeting.

The Board discussed the proposals of acquisition of business entity by way of acquisition of Equity Shares of suitable Company out of proposals place before the board by way of Swapping of equity Shares of the Company (Consideration of acquisition will be through swapping of equity shares of the company), resulting the Company will become the subsidiary Company of the Company.

The Board further authorized Mr. Anand Vasant Mode, Managing Director and CFO of the Company to appoint professionals / consultants and valuer to get valuation reports and other legal / technical reports for taking final decision on the proposal of acquisition, the board will further discuss and take final decision on acquisition of business entity by way of acquiring equity shares of business entity, Further necessary decisions will be considered in next Board Meeting.

The Board has discussed the matter regarding, appointment of Company Secretary cum Compliance Officer of the company, and further the board took on records the Company's Offer letter dated 24th November, 2022 given to the proposed appointee Company Secretary candidate, and the candidate has intimated her inability to join the office, due to her health issues, accordingly, the Board decided that the appointed of Company Secretary cum Compliance Officer of the company stands cancelled.

Shares of Navoday Enterprises Limited was last trading in BSE at Rs. 4.34 as compared to the previous close of Rs. 4.56. The total number of shares traded during the day was 168000 in over 14 trades.

The stock hit an intraday high of Rs. 4.34 and intraday low of 4.34. The net turnover during the day was Rs. 729120.00.

Source : Equity Bulls

Keywords

NavodayEnterprises INE0DB001013 ConsultingServices Acquisition ShareCapitalIncrease