Outcome of Board Meeting for preferential issue of shares and convertible equity warrants.
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Amic Forging Ltd's board, at its meeting on October 10, 2025, approved a preferential issue of up to 2,60,425 equity shares at Rs. 1,536 per share (face value Rs. 10, premium Rs. 1,526), aggregating about Rs. 40 crore, to be allotted to 27 non-promoter allottees. Separately, the board approved issuing up to 65,000 convertible warrants at Rs. 1,536 each, aggregating about Rs. 9.98 crore, to promoters Priya Bhutra (26,000 warrants) and Rashmi Chamaria (39,000 warrants). Each warrant is convertible into one equity share within 18 months of allotment. An Extraordinary General Meeting has been scheduled for November 5, 2025 to seek shareholder approval for these issuances. The allottee list for the equity shares includes Finwinora Financial Services LLP, VT Capital Market Private Limited, Avora SME Fund 1, and several individual investors.
The company is raising roughly Rs. 50 crore combined through a preferential equity and warrants route, which will dilute existing shareholders but bring in fresh capital. Since warrants involve promoter participation, it signals some promoter confidence, though eventual conversion will further dilute equity. The stock may see short-term pressure from dilution, pending EGM approval on November 5, 2025.