Board to consider rights issue, higher Section 186 investment limits and authorised capital increase
Neo Infracon has told BSE that its Board will meet on Tuesday, November 03, 2026.
By ScoutQuest · · 2 min read
- Board meeting date
- Tuesday, November 03, 2026
- Rights issue instrument
- equity shares of face value Rs. 10/- each to eligible equity shareholders on a rights basis
- Other agenda items
- increase in limits of investments under Section 186; increase in Authorised Share Capital under Section 61(1)(a)
What was announced
Neo Infracon Limited has informed BSE that a meeting of its Board of Directors is scheduled to be held on Tuesday, November 03, 2026. Further to the intimation dated October 26, 2026, the Board also intends to consider and approve certain additional matters.
Rights issue on the agenda
- The Board will consider fund raising by way of an issuance of equity shares of face value Rs. 10/- each to eligible equity shareholders on a rights basis.
- This is subject to receipt of necessary approvals from regulatory authorities and would be in accordance with the Companies Act, 2013, SEBI ICDR Regulations, 2018 and other applicable laws.
- In a rights issue, existing shareholders get the first right to subscribe to the new shares, normally in proportion to the shares they already hold.
Higher investment limits
- The Board will consider the increase in the limits of investments of the Company in accordance with Section 186 of the Companies Act, 2013.
- Section 186 governs how much a company can invest in, lend to, or give guarantees for other bodies corporate.
Authorised share capital
- The Board will consider the increase in the Authorised Share Capital under Section 61(1)(a) of the Companies Act, 2013, and the consequent alteration of Clause V of the Memorandum of Association.
- This is stated to be subject to shareholders' approval.
- Authorised share capital is the ceiling up to which a company can issue shares; raising it is a step that allows more shares to be issued.
Shareholder approval
- The Board will approve the notice of the EGM / postal ballot for seeking shareholder approval for the above matters, fix its date and appoint a scrutinizer.
What a retail shareholder can take away
- These are matters the Board intends to consider and approve at its meeting; the rights issue is being proposed subject to necessary regulatory approvals.
- A rights issue adds new shares, so existing shareholders have a choice to subscribe and pay for their entitlement.
- The investment-limit and authorised-capital items are enabling steps that widen the company's headroom for investments and for issuing shares.
- Shareholder approval through an EGM or postal ballot is being lined up for the proposals.
Also from Neo Infracon
Board clears ₹12 Crore authorised capital, ₹16 Crore rights issue and Q2 results
3 Nov 2026
Consolidated results for the 30-Sep-26 (Unaudited)
3 Nov 2026
Board meeting on 3 November 2026 to consider and approve Q2 un-audited results
26 Oct 2026
More numbers
- Face value of equity shares proposed for the rights issueRs. 10/-
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