One Point One Solutions announces increase in authorised share capital

One Point One Solutions has informed exchanges that its board has approved an increase in the authorised share capital. However, this is subject to the approval of the shareholders. According to the information shares, the board has approved an increase in the authorised share capital from Rs 50 crore to Rs 70 crore.

"The Board has approved an increase in the authorized share capital of the Company from INR 50,00,00,000 (Indian Rupees Fifty Crores Only) to INR 70,00,00,000 (Indian Rupees Seventy Crores Only). Consequently, the capital clause of the Memorandum of Association (MOA) will be altered to reflect this change in accordance with Section 61(1)(a) of the Companies Act, 2013, and other applicable laws and regulations," the company said in the filing.  

The company said that the board has also approved the issuance and allotment of the equity shares and warrants.

"Subject to the approval of the shareholders and requisite regulatory and statutory approvals, the Board has approved the issuance and allotment of 3,75,94,502 (Three Crores Seventy-Five Lakhs Ninety-Four Thousand Five Hundred and Two) equity shares and 1,67,85,714 (One Crore SixtySeven Lakhs Eighty-Five Thousand Seven Hundred and Fourteen) equity warrants of face value of INR 2/- each," the company said.