LEAP India Limited has approved a proposal to convert the composition of its authorised share capital into equity shares of Re 1 each. The proposal will take effect only after approval by the company’s shareholders.
BKK Bureau, New Delhi | 27 October 2026 | 5:27 AM IST
LEAP India Limited has approved a proposal to reclassify its authorised share capital into equity shares, according to a filing with the National Stock Exchange of India. The proposal was approved at a board meeting held on October 26, 2026, and disclosed to the exchange on October 27.
The company’s total authorised share capital will remain Rs 1,265,06,66,760 under the proposal. However, its composition would change from the present structure, which includes equity shares, various series of compulsorily convertible preference shares and optionally convertible redeemable preference shares.
Under the proposed reclassification, the authorised share capital would be divided into 1,265,06,66,760 equity shares with a face value of Re 1 each. The company has described the proposal as a reclassification of its authorised share capital and not as an increase in the total authorised capital amount.
The proposal also includes a consequential alteration to Clause V of LEAP India’s Memorandum of Association. Clause V relates to the company’s capital structure, and the proposed amendment is intended to reflect the revised composition of the authorised share capital.
The board’s approval does not by itself make the change effective. The exchange filing states that the proposal is subject to approval by the company’s shareholders. It also specifies that the effective date will be the date on which shareholders approve the proposal.
The filing records that the board meeting commenced at 5 pm on October 26 and concluded at 6:30 pm. It also states that prior intimation for alteration of authorised share capital was not applicable under Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
LEAP India has not specified a date for the shareholder meeting in the exchange filing. The filing states that the relevant date will be fixed in due course in accordance with applicable provisions. The company will therefore need to complete the shareholder-approval process before the proposed reclassification can become effective.
What the filing changes
- Total authorised share capital: Rs 1,265,06,66,760.
- Proposed composition: 1,265,06,66,760 equity shares.
- Face value of each proposed equity share: Re 1.
- Related action: Alteration of Clause V of the Memorandum of Association.
- Required next step: Approval by the company’s shareholders.
Why it matters
The proposal would change the composition of LEAP India’s authorised share capital while keeping the overall authorised amount unchanged. Shareholder approval is a required condition, making the subsequent approval process central to the implementation of the board-approved proposal.
Source: National Stock Exchange of India
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