NHC Foods Limited announced its 34th Annual General Meeting, scheduled for September 25, 2026. Key agenda items include proposing to increase the company’s borrowing powers to ₹2,000 crore and seeking approval for the issue of up to 25,60,00,000 convertible warrants to Non-Promoter Category investors, aggregating to ₹53.76 crore. These proposals aim to bolster the company’s financial flexibility and fund its growth initiatives.
NHC Foods Announces AGM and Key Proposals
NHC Foods Limited has formally announced its 34th Annual General Meeting (AGM), which will be conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM) on Friday, September 25, 2026, at 12:30 PM IST. The meeting will address several critical business matters, including significant enhancements to the company’s financial capabilities.
Proposed Increase in Borrowing Powers
A primary resolution to be considered is the proposal to increase the company’s borrowing powers. As per Section 180(1)(a) and 180(1)(c) of the Companies Act, 2013, the company seeks shareholder approval to enhance its borrowing limit from the existing ₹500 crore to ₹2,000 crore. This move is intended to augment long-term financial resources for growth and to meet additional working capital requirements, providing substantial financial flexibility for future operations.
Issue of Convertible Warrants
Furthermore, the company plans to seek approval for the issue and allotment of up to 25,60,00,000 convertible warrants on a preferential basis to the Non-Promoter Category. These warrants will be issued at a price of ₹2.10 per warrant, aggregating to a total of ₹53,76,00,000. The proceeds are earmarked for capital expenditure, working capital requirements, and general corporate purposes. This strategic move aims to strengthen the company’s equity base and support its expansion plans.
Other Agenda Items
The AGM will also cover the appointment of directors, the secretarial audit report, and other routine corporate governance matters.
Source: BSE
