What’s new

• Board approves name change to Midaas Fashions Ltd. and new object clause for jewellery and fashion retail.
• Authorises up to ₹50 crore for loans, investments, and guarantees under Sections 185 and 186.
• Proposes 1:2 stock split and shift of registered office from West Bengal to Maharashtra.

Why it matters

A market cap of just ₹47 cr makes the ₹50 cr authorisation highly material — it exceeds the entire equity value. The pivot from chemicals to fashion is a fundamental shift, but still needs shareholder and regulatory approvals.

What we’re watching

• Shareholder vote on name change, object clause, and stock split.
• Effective date of stock split and liquidity impact.
• Regulatory clearances for office shift and loan authorisation.

The full read

Shentracon Chemicals, a nano-cap with a ₹47 cr market cap, is walking away from chemicals altogether. Its board approved a name change to Midaas Fashions Limited, a 1:2 stock split, and a shift of the registered office from West Bengal to Maharashtra. The headline, however, is the ₹50 crore authorisation for loans, investments, and guarantees under the Companies Act, a sum bigger than the entire company. That signals serious intent, not just a paperwork pivot. The new object clause targets jewellery, fashion accessories, and lifestyle retail. But none of this is final: shareholder votes and regulatory nods are pending. If approved, the revival of a dormant shell into a consumer-facing venture could follow. If not, it is just another board meeting.

Primary source: BSE · NSE