Image Source: Midwest Global
Midwest Gold Limited has approved a preferential issue of up to 10,00,000 equity shares at Rs. 2,000 each, aggregating Rs. 200 crore. The company will convene an extraordinary general meeting on March 14, 2026, to seek shareholder approval and has appointed a scrutinizer for e-voting.
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Midwest Gold Limited has informed that its Board of Directors, in the meeting held on February 19, 2026, approved significant capital-raising and governance measures.
Key Highlights
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The board approved issuance of up to 10,00,000 equity shares of Rs. 10 each at an issue price of Rs. 2,000 per share, aggregating Rs. 200 crore, on a preferential basis to promoters, promoter group, and non-promoter public category investors.
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The preferential issue will be subject to shareholder and stock exchange approval, in line with SEBI (ICDR) Regulations, 2018, and the Companies Act, 2013.
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An extraordinary general meeting (EGM) has been scheduled for March 14, 2026, at 11:00 AM IST, to be conducted via video conferencing and other audio-visual means.
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CS Munesh Kumar Gaur has been appointed as the scrutinizer to oversee the e-voting process, ensuring transparency and fairness.
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Given the issue size exceeds Rs. 100 crore, the board is in the process of appointing a monitoring agency under Regulation 162A of SEBI ICDR Regulations.
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The company has complied with disclosure requirements under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and SEBI Master Circular dated November 11, 2024.
Sources: Company filing with BSE, SEBI Regulations, Companies Act, 2013.
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