The Board of Safa Systems & Technologies approved key strategic moves, including re-appointing two Independent Directors and the proposed shift of its registered office from Kerala to Delhi, pending necessary approvals.

Financially, the Board approved borrowing up to ₹500 Cr and enhanced limits for pledging company assets.

A preferential issue of up to 23.90 lakh equity shares at ₹20.47 each, totaling ₹4.89 Cr, will be made to promoters and promoter group.

Additionally, the Board waived past excess managerial remuneration and approved increased future remuneration for the Managing Director and a Non-Executive Director.