Diana Tea Company’s Board of Directors convened on August 12, 2026, approving the unaudited financial results for the quarter ended June 30, 2026. Key decisions included approving a significant proposal to raise up to ₹110 crore through the issuance of equity convertible warrants via preferential allotment. The board also finalized the date and notice for the 115th Annual General Meeting.
Board Approves Financial Results and Strategic Funding
Diana Tea Company announced on August 12, 2026, that its Board of Directors has approved the unaudited standalone financial results for the quarter ended June 30, 2026. Alongside the financial update, the board also sanctioned a crucial proposal to raise funds. This involves the issuance of up to 4,074,075 Equity Convertible Warrants at a price of ₹27 per warrant. The total amount to be raised from this preferential issue is approximately ₹110 crore. These warrants are convertible into fully paid-up equity shares of the company.
Shareholder Approval and AGM Details
The proposal for the equity warrant issuance is subject to the approval of the shareholders at the upcoming Annual General Meeting (AGM). The company has scheduled its 115th AGM for Friday, September 11, 2026, at 3:00 PM, which will be conducted via Video Conferencing (VC) or other audio-visual means (OAVM). The Notice for the 115th AGM has also been considered and approved.
Corporate Governance and Other Approvals
Further to the board meeting, the company also approved several other corporate actions. These include the adoption of new sets of Memorandum of Association (MOA) and Articles of Association (AOA), aligned with the Companies Act, 2013. The Board’s Report for the financial year ended March 31, 2026, was also approved. Additionally, the re-appointment of Mrs. Sarita Singhania as Whole Time Director for a further term of five years, effective from November 11, 2026, was approved, pending member approval at the AGM. The register of members and share transfer books will be closed from September 5, 2026, to September 11, 2026, for the AGM. The cut-off date for voting rights is September 4, 2026.
Source: BSE
