Banganga Paper board to discuss capital increase, acquisition, new auditor

Banganga Paper Industries Limited (formerly Inertia Steel Limited) has announced that its board of directors will meet on December 17, 2025. The agenda includes significant proposals such as increasing the authorized share capital, subject to shareholder approval, and considering the issuance of securities through a preferential issue or private placement. The board will also determine the issue price for these securities and seek necessary regulatory and statutory approvals.

Further strategic discussions encompass a potential acquisition, the appointment of a new statutory auditor, and a proposal to shift the company's registered office. The board will also consider the sale of equity shares held in a subsidiary and address financial matters, including borrowing in excess of paid-up share capital, free reserves, and securities premium under Section 180(1)(c) of the Companies Act, 2013.

Other key items on the agenda include creating a charge or mortgage on company assets under Section 180(1)(a) of the Companies Act, 2013, and discussing inter-corporate loans, advances, and investments exceeding limits under Section 186. The board will also consider altering the main objects clause of the Memorandum of Association and transact any other incidental business. The trading window for the company's securities is currently closed and will reopen 48 hours after the meeting concludes.