Varvee Global Limited Approves 1:2 Equity Share Split and Key Corporate Changes

Varvee Global Limited announced significant corporate decisions following its board meeting held on January 16, 2026. The company's board of directors approved multiple strategic initiatives, including an equity share split and key personnel changes. Equity Share Split Approved The board approved a 1:2 equity share split, subject to shareholder approval. Under this proposal, each existing equity share with a face value of ₹10.00 will be subdivided into 2 equity shares with a face value of ₹5.00 each. Parameter: Pre-Split Details Post-Split Details Face Value per Share: ₹10.00 ₹5.00 Authorized Share Capital: 3,50,00,000 shares 7,00,00,000 shares Paid-up Share Capital: 2,57,64,339 shares 5,15,28,678 shares Total Authorized Capital: ₹35,00,00,000 ₹35,00,00,000 Total Paid-up Capital: ₹25,76,43,390 ₹25,76,43,390 The company stated that the share split aims to make shares more affordable and attractive to investors, encouraging greater participation from retail investors while enhancing market liquidity. The completion is expected within approximately 2 months from shareholder approval, subject to statutory requirements. Internal Auditor Changes The board addressed changes in the internal auditor position. Mr. Sanjay Vyas resigned as Internal Auditor effective November 30, 2025, citing pre-occupation with other assignments. His resignation letter was dated November 14, 2025. Details: Information Outgoing Auditor: Mr. Sanjay Vyas Resignation Date: November 14, 2025 Effective Date: November 30, 2025 Reason: Pre-occupation in other assignments To fill the casual vacancy, the board appointed M/s Jagetiya & Co, Chartered Accountants (F.R.N. 131407W) as the new Internal Auditor for FY 2025-26. The firm brings 16 years of experience in statutory audit, tax audit, internal audit, GST consultancy, and taxation consultancy. Management Remuneration Revisions Based on recommendations from the Nomination and Remuneration Committee, the board approved revised remuneration packages for key managerial personnel, subject to shareholder approval: Mr. Jaimin Kailash Gupta (DIN: 06833388), Managing Director Mr. Tarachand Agrawal (DIN: 00465635), Whole Time Director Additional Corporate Actions The board approved several consequential measures: Alteration of Capital Clause (Clause V) in the Memorandum of Association to reflect the new share structure Notice of Postal Ballot to seek shareholder approval for the proposed changes Appointment of Mr. Tapan Shah, Practicing Company Secretary, as Scrutinizer for the postal ballot voting process The authorized share capital structure will be revised to ₹50,00,00,000 divided into 7,00,00,000 equity shares of ₹5.00 each and 1,50,00,000 Cumulative Redeemable Non-Convertible Preference Shares of ₹10.00 each. The board meeting commenced at 4:15 PM and concluded at 4:30 PM on January 16, 2026. The company will announce the record date for the share split in due course, pending shareholder approval. Varvee Global Limited has announced a board meeting scheduled for Friday, January 16, 2026, to consider important corporate decisions including equity share sub-division and quarterly financial results review. The company has informed both BSE Limited and National Stock Exchange of India Limited about this meeting in compliance with Regulation 29 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015. Key Agenda Items for Board Meeting The board meeting will address several critical matters that could impact shareholders and the company's capital structure: Agenda Item: Details Share Sub-Division: Face value reduction from ₹10 to ₹5 per equity share Regulatory Compliance: Section 61 of Companies Act, 2013 Required Approvals: Governmental, statutory, regulatory, and shareholder approvals Additional Matters: Other business with board permission Share Sub-Division Proposal The primary focus of the meeting will be the consideration and approval of equity share sub-division. The company proposes to split the face value of existing equity shares from ₹10 each to ₹5 each. This corporate action requires compliance with Section 61 of the Companies Act, 2013, and is subject to obtaining necessary governmental, statutory, and regulatory approvals, including shareholder consent. Trading Window Restrictions In accordance with insider trading regulations, Varvee Global Limited has implemented trading restrictions for specific categories of individuals. The trading window closure affects connected persons, insiders, designated persons, and their immediate relatives as defined under the company's Code of Conduct. Parameter: Details Closure Start Date: January 1, 2026 Closure End: 48 hours after Q3FY26 results declaration Applicable Period: Quarter ended December 31, 2025 Regulatory Framework: SEBI (Prohibition of Insider Trading) Regulations, 2015 Regulatory Compliance and Documentation The company has formally notified both major stock exchanges about the upcoming board meeting. Varvee Global Limited trades on BSE with scrip code 514274 and on NSE with symbol VGL. The notification was signed by Abira Mansuri, Company Secretary and Compliance Officer, ensuring proper adherence to disclosure requirements under SEBI regulations. The company, formerly known as Aarvee Denims and Exports Limited, continues to maintain transparency in its corporate governance practices through timely regulatory filings and stakeholder communications. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. 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