The Board of Directors of Madhya Bharat Agro Products Limited, at its meeting held on 06th August 2025, has taken several important decisions aimed at expanding the company's future operations, strengthening leadership, and fulfilling regulatory and shareholder obligations. The meeting commenced at 11:30 AM and concluded at 11:50 AM.

Major highlight: ₹1000 Cr Securities Issuance Plan

One of the most significant outcomes of the meeting was the Board's decision to enhance its earlier fundraising plan. Earlier, on 15th January 2025, the board had passed a resolution to raise ₹200 crore through Qualified Institutional Placement (QIP), which was subsequently approved in the Extra Ordinary General Meeting (EGM) on 17th February 2025.

However, keeping in view the company’s future fund requirements and long-term growth strategy, the board has now approved a proposal to seek fresh shareholder approval at the upcoming Annual General Meeting (AGM) to raise funds up to ₹1000 crore. The company plans to raise this capital in one or more tranches, through various permissible routes such as:

• Private Placement

• Preferential Issue

• Public Issue

• Rights Issue

• Qualified Institutional Placement (QIP)

• Or a combination of these modes.

The types of instruments that may be issued include equity shares, preference shares, bonds, debentures, non-convertible debt instruments, warrants, or any other security instruments as permitted by regulatory authorities.

This new proposal will supersede the earlier approved resolution for ₹200 Cr QIP, and the company is expected to place the special resolution before shareholders during the AGM.

Leadership Reappointments for Stronger Governance

The board also approved two key leadership reappointments that ensure stability and continuity in the company’s operations:

1. Reappointment of Mrs. Shruti Babel

Mrs. Shruti Babel has been reappointed as a Non-Executive, Independent Director for a second term of 5 consecutive years, up to the conclusion of the 33rd AGM in 2030.

• Aged 34, she holds a Master’s degree in Business Administration and has previously worked in consultancy roles focusing on customer-centric business value execution.

• She is not related to any other board members, and there are no disqualifications as per SEBI or NSE guidelines.

2. Reappointment of Mr. Sourabh Gupta

Mr. Sourabh Gupta, a Chartered Accountant by profession and associated with the company since 2010, has been reappointed as the Whole Time Director and Chief Financial Officer (CFO) for another 5-year term starting 11th June 2026.

• With over 15 years of experience, he currently handles the financial, commercial, and technical aspects of the business.

• He is also not related to any board members and is not debarred from holding office by any authority.

These reappointments reflect the company’s focus on strengthening leadership continuity while adhering to SEBI’s regulatory framework.

Other Key Decisions Taken by the Board

The meeting also included operational and compliance-focused decisions:

Appointment of Scrutinizer for AGM E-voting

The Board has appointed Mr. Sourabh Bapna, a Practicing Company Secretary, as the Scrutinizer for the e-voting process during the upcoming AGM. His appointment ensures a transparent voting mechanism in compliance with the Companies Act and SEBI regulations.

NSDL Appointed as E-Voting Platform

To facilitate electronic voting, the company has chosen National Securities Depository Limited (NSDL) as the e-voting service provider for the upcoming AGM. This aligns with the regulatory push towards paperless governance and shareholder participation.

Annual General Meeting Date Finalised

The Annual General Meeting (AGM) of the shareholders is scheduled to be held on:

• Date: Tuesday, 02nd September 2025

• Time: 3:00 P.M. IST

• Mode: Through Video Conferencing (VC) or Other Audio-Visual Means (OAVM)

This digital mode is compliant with MCA and SEBI guidelines and ensures broad shareholder participation without physical presence.

Record Date Announced for Final Dividend and Voting Rights

The Record Date (Cut-off Date) has been fixed as Tuesday, 26th August 2025 for two purposes:

1. To determine the list of shareholders eligible to receive final dividend

2. To ascertain members eligible to participate in the e-voting process for the AGM

This step ensures clarity in dividend disbursement and voting rights, maintaining corporate transparency and investor trust.

Strategic Outlook

With these decisions, Madhya Bharat Agro is clearly positioning itself for strategic expansion, governance continuity, and shareholder-friendly initiatives.

The fundraising plan of ₹1000 crore, if approved, can provide the company with the financial muscle to:

• Expand production facilities

• Enhance working capital

• Enter new domestic and international markets

• Invest in research, innovation, and infrastructure

Simultaneously, the reappointment of key leaders like Mrs. Shruti Babel and Mr. Sourabh Gupta ensures that the company's corporate leadership remains stable and experienced, guiding the next phase of growth.

Furthermore, the company’s commitment to regulatory compliance, evident through structured disclosures and appointments, showcases its intent to maintain transparent communication with stakeholders and regulators alike.

As the company prepares for its AGM on September 2, all eyes will be on the shareholder response to the massive ₹1000 Cr fundraising proposal, which could significantly reshape Madhya Bharat Agro’s position in the agro-industrial landscape.

Stay tuned for more updates on this development and other related news as the company moves forward with its ambitious plans.

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