Padam Cotton Yarns Limited has announced a board meeting to approve increasing its authorized capital from Rs. 13 Cr to Rs. 22 Cr to support future fund raising.

The company plans to raise up to Rs. 20 Cr through equity shares or other securities via preferential or rights issue after completing the capital increase formalities.

It also approved shifting its registered office from Haryana to Gujarat.

A scrutinizer has been appointed for the e-voting process related to the upcoming Extraordinary General Meeting, where shareholders will vote on these proposals.