HRH Next Services Limited, a Hyderabad-based company, has announced several important corporate decisions following its Board of Directors meeting held on February 12, 2025. These developments include an increase in authorized share capital, a proposed rights issue to raise up to Rs. 50 crore, and several governance updates. The company’s stock market listing details remain unchanged, with the symbol HRHNEXT on the National Stock Exchange.

Increase in Authorized Share Capital

The Board has approved an increase in the company’s authorized share capital, from Rs. 16 crores to Rs. 25 crores. This will involve increasing the number of equity shares from 1.6 crore to 2.5 crore shares, with a face value of Rs. 10 each. The Memorandum of Association (MoA) will be amended accordingly, subject to shareholder approval via a Postal Ballot.

Rights Issue for Fundraising

In a bid to raise capital, HRH Next Services will conduct a Rights Issue offering equity shares to eligible shareholders, for a total amount not exceeding Rs. 50 crores. The exact terms of the rights issue, including the record date, will be determined soon. The funds raised will be used to further the company's business objectives and strategic initiatives. The process will comply with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013.

Governance Updates

The company has also announced the reappointment of Ms. Jyoti Das as an external member of the Internal Complaints Committee for a one-year term, from February 01, 2025, to January 31, 2026. In addition, the Board has appointed Mrs. Rashida Adenwala, a practicing company secretary, as the scrutinizer for the upcoming postal ballot.

Call Center Agreement with Urbanrise

HRH Next has entered into a Call Center Service Agreement with Urbanrise Lifestyles Private Limited, effective from February 01, 2025, to April 31, 2025. The agreement will see Urbanrise providing inbound and outbound contact center operations, aligning with HRH Next’s operational needs.

Next Steps

The company is expected to issue a Postal Ballot Notice to its shareholders soon, seeking consent for the proposed increase in authorized share capital. These corporate actions are part of HRH Next’s efforts to strengthen its capital structure and expand its business operations.

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