Announced Fri, 10 Apr · 13:42 IST
Board approves Rs 25 Cr equity issuance to promoter via loan conversion
Board & Shareholder Meetings View source PDF
ALMONDZ · price
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AI summary
The board approved issuing up to 1.63 crore equity shares at Rs 15.32 per share to promoter Avonmore Capital & Management Services, aggregating up to Rs 25 crore, by converting an existing unsecured loan into equity. This preferential allotment will increase the promoter's holding from 50.34% to 52.40%. An EGM will be held on May 11, 2026 to seek shareholder approval, with NSE/BSE approvals also pending.
Likely market impact
Existing shareholders will face dilution; promoter's stake rises from 50.34% to 52.40%. Pending shareholder and exchange approvals at the May 11 EGM.