Galactico Corporate Services Limited held an adjourned board meeting on August 14, 2026, approving the unaudited financial results for the quarter ended June 30, 2026, and the Annual Report for FY 2025-26. Key decisions included a proposal to increase authorized share capital from ₹20 crore to ₹24.50 crore and approval for a warrant issue. The company also ratified material related party transactions and appointed an internal auditor.
Galactico Corporate Services Board Meeting Highlights
Galactico Corporate Services Limited convened an adjourned meeting of its Board of Directors on Friday, August 14, 2026. The meeting, held via video conferencing, resulted in several key financial and corporate decisions. The Board considered and approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, along with the Limited Review Report. They also approved the Annual Report for the Financial Year 2025-26 and the Notice for the 11th Annual General Meeting.
Share Capital Increase and Warrant Issue Approved
A significant resolution passed was the approval for an increase in the authorized share capital of the Company. The capital will be increased from the existing ₹20,00,00,000 (Twenty Crore) divided into 20,00,00,000 Equity Shares of ₹1 each, to ₹24,50,00,000 (Twenty-Four Crores and Fifty Lakhs) divided into 24,50,00,000 Equity Shares of ₹1 each. This involves an addition of 4,50,00,000 Equity Shares. Concurrently, the Board approved a proposal for raising of funds through the issue of warrants, convertible into Equity Shares, subject to member and regulatory approvals. The draft terms and conditions for this proposed warrant issue were also approved, including details such as up to 1,80,00,000 warrants at an issue price of ₹2.03 per warrant, with a proposed amount to be raised up to ₹3,65,40,000. The funds are earmarked for 25% general corporate purposes and 75% for maintenance of liquid net worth.
Related Party Transactions and Auditor Appointment
The Board also considered and approved the continuation of existing arrangements and potential new transactions with its subsidiary, Instant Finserve Private Limited, for FY 2026-2027, with an aggregate amount not exceeding ₹7,00,00,000. Furthermore, the Board ratified material related party transactions entered into during the period from April 1, 2025, to June 30, 2026. In terms of internal governance, M/s. BKSK & Associates were appointed as the Internal Auditor for the Financial Year 2026-27. An appointment of M/s. Akshay R. Birla and Associates as a Scrutinizer for the upcoming Annual General Meeting was also approved.
Source: BSE
