USG Tech Solutions has announced the outcome of its board meeting.

The company approved the financial results for the quarter, reporting a standalone loss of Rs. 0.09 Cr and a consolidated loss of Rs. 0.14 Cr.

Key decisions include the sale of wholly-owned subsidiaries Nishkarsh Properties and Zeal Appartment LLP.

The board plans a significant capital raise by increasing authorized share capital to Rs. 80 Cr and a further share issue of up to Rs. 50 Cr.

Strategic moves also involve launching a new application and executing an agreement to set up a green hydrogen plant, signalling a potential new business direction.

Mr. Aadarsh Aggarwal has been appointed as the new CFO.