Rectified Notice of EGM to be held on November 05, 2025.
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Awaiting price reaction for this filing.
Amic Forging Limited has called an Extra-Ordinary General Meeting on November 5, 2025 (at 3:00 PM via video conferencing) to seek shareholder approval for raising about Rs. 49.99 crores through a preferential issue. The proposal includes 2,60,425 equity shares at Rs. 1,536 per share (face value Rs. 10, premium Rs. 1,526) and 65,000 convertible warrants at the same price, together equal to roughly 2.80% of the post-issue fully diluted share capital. Of the 27 proposed allottees for shares and 2 for warrants, promoter Rashmi Chamaria will receive 39,000 warrants, taking her holding to about 13.07% post-issue, while the rest are non-promoter investors including MBRD Investment, Finwinora Financial Services LLP, VT Capital Market, and several individuals and funds. The issue price of Rs. 1,536 is based on the higher of the 90-day and 10-day VWAP on BSE, with the relevant date set as October 6, 2025. The company says there will be no change in control, and funds will be used for capital expenditure, working capital, and general corporate needs.
Existing shareholders will see a small dilution of around 2.80% on a fully diluted basis, while the company gets fresh capital for growth without ceding control. The promoter continues to hold a significant stake, and the issue price being at or above the regulatory floor offers some pricing comfort, though retail shareholders may want to evaluate the discount/premium relative to the prevailing market price before the EGM.