MPS Ltd has announced plans to raise up to INR 300 crore through a Qualified Institutional Placement (QIP). The Board of Directors, in its meeting on 28 February 2025, approved the issuance of equity shares or equity-linked securities in one or more tranches. The funds will be raised in compliance with SEBI regulations and other applicable laws, pending shareholder and regulatory approvals. A dedicated Fund Raising Committee has been authorized to finalize the terms and conditions.
In another key decision, the Board revised the terms of re-appointment and remuneration for Mr. Rahul Arora, CEO and Managing Director, following his change in residential status from Resident to Non-Resident. The modifications are subject to shareholder and Central Government approval.
Additionally, the Board announced a Postal Ballot to seek shareholder approval for:
- The proposed capital raising via QIP.
- The appointment of Ms. Divya Verma as an Independent Non-Executive Director.
- The appointment of Ms. Jayantika Dave as a Non-Executive Director.
- The revised terms for Mr. Rahul Arora’s re-appointment.
The Postal Ballot cutoff date is set for 27 February 2025, with details available on MPS Ltd’s website.
These strategic moves highlight MPS Ltd’s focus on strengthening its financial position and leadership team to drive future growth.
