Ujaas Energy Plans Authorized Share Capital Increase

Clean energy firm Ujaas Energy will seek shareholder approval to raise its authorized share capital from Rs 30 crore to Rs 45 crore during its AGM on August 16, 2024. The company also plans to issue bonus shares in a ratio of 1:4.

Ujaas Energy, a key player in the clean energy sector, is targeting an increase in its authorized share capital from Rs 30 crore to a substantial Rs 45 crore. Shareholders will be asked to approve this rise during the annual general meeting slated for August 16, 2024.

This strategic move was greenlit by the board of directors in a meeting held on July 15. The proposal includes a bonus issue of shares at a ratio of 1:4, meaning one fully paid-up equity share of Re 1 for every four existing shares.

The notice for the AGM indicates that the increase in authorized share capital will enable the company to issue and allot the new shares, thereby scaling its capital base to Rs 45 crore, distributed across 45 crore equity shares of Re 1 each.