Announced Fri, 4 Sept · 18:53 IST
Revised board outcome: capital hike, warrant issue, management changes
Price
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Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Revised board outcome filed on Sept 4. Authorised capital to rise from Rs 5 crore to Rs 15 crore. Company plans 1 crore convertible warrants at Rs 40 each (Rs 30 premium) on preferential basis to 120 allottees, potentially raising Rs 40 crore. Borrowing limit raised to Rs 100 crore. Main object clause altered to focus on spices and food products. Multiple board changes including new MD Rahul Jain, new CFO, and several new directors.
Likely market impact
Potential equity dilution from warrants. Capital raise plans and major management overhaul. Business focus shifts to spices and food sector.