This is to inform all the stakeholders that Board of Directors in their meeting held today has approved agendas as stated in attached Outcome of Board Meeting
Awaiting price reaction for this filing.
The Board of Euro Asia Exports Limited (Scrip Code: 530929) approved the allotment of 50,00,000 equity shares to Mr. Rajendra Kamalkant Chodankar (a non-promoter and Additional Director) on a preferential basis at Rs 10 per share, raising Rs 5 crore. This allotment follows shareholder approval from February 2024 and in-principle approval from BSE dated 3rd April 2025. As a result, the company's paid-up equity capital rises sharply from Rs 3.72 crore (37.18 lakh shares) to Rs 8.72 crore (87.18 lakh shares), more than doubling the total share count. Promoter holding falls from 6.83% to 2.91%, while public holding rises from 93.17% to 97.09%. The Board also approved convening an EGM on 5th May 2025 via video conferencing.
Existing shareholders face significant dilution as the share count jumps by roughly 134%, with a single non-promoter investor now holding a very large stake (around 94% of post-allotment public shares). The sharp drop in promoter shareholding and the company raising only Rs 5 crore may weigh on sentiment, though the funds strengthen the balance sheet.