Gujarat Natural Resources Limited has scheduled its 35th AGM for September 30, 2026, featuring a key proposal to split its equity shares from Rs 10 to Re 1 face value. The meeting will also seek shareholder approval for the appointment of a new Independent Director and four material related party transactions, each valued up to Rs 150 crore, aimed at bolstering liquidity and business operations.
Gujarat Natural Resources Limited Announces 35th AGM and Stock Split Proposal
- Proposed 1:10 stock split, dividing Rs 10 shares into Re 1 face value.
- Four related party transactions valued at Rs 150 crore each for FY28.
Reader Takeaway: The stock split aims to improve market liquidity, while related party transactions support ongoing operational business requirements.
What just happened
Gujarat Natural Resources Limited has formally issued the notice for its 35th Annual General Meeting, which will be held via video conferencing on September 30, 2026. The board of directors has placed several critical items on the agenda for shareholder approval, most notably a sub-division of equity shares and the regularization of a new board member.
Share Split and Capital Alteration
The company intends to sub-divide its existing equity shares from a face value of Rs 10 per share to Re 1 per share. This corporate action is designed to enhance liquidity and encourage broader retail participation. While the share count will increase ten-fold, the aggregate authorized and paid-up capital remains unchanged.
Related Party Transactions
Shareholders will vote on four significant related party transactions for the 2027-28 fiscal year. The company has proposed deals with Rhetan TMT Limited, Ashnisha Industries Limited, Lesha Industries Limited, and Ashoka Metcast Limited. Each transaction is capped at Rs 150 crore and involves activities such as the supply of goods, services, and inter-corporate borrowings. The management maintains that these transactions are conducted at arm's length and in the ordinary course of business.
Governance
The company has proposed the appointment of Mrs. Jhanvi Vikas Sethi as a Non-Executive Independent Director for a five-year term starting August 14, 2026. Mrs. Sethi brings two decades of experience in financial markets. Additionally, Mr. Shalin Shah is up for re-appointment as Managing Director.
What to track next
Shareholders should note that the Register of Members and Share Transfer Books will be closed from September 24 to September 30, 2026. E-voting facilities will be available to facilitate participation during the virtual meeting.