Announcement under Regulation 30 (LODR)- Raising of Funds
Awaiting price reaction for this filing.
JTL Defence's Board has approved a plan to raise up to Rs. 100 Crores through equity shares, using one or a combination of QIP, Preferential Issue, FPO, Rights Issue, or any other permitted mode, in one or more tranches. The decision is subject to shareholder approval and other regulatory clearances. The Board also constituted a Fund Raising Committee and a Sub-Committee to oversee the process. Additionally, the company plans to shift its registered office from Delhi to Himachal Pradesh, requiring shareholder and regulatory approvals. An Extraordinary General Meeting (EGM) will be convened to seek member approval for these decisions.
The fund-raise plan signals potential dilution for existing shareholders, though the exact pricing, mode, and timing are yet to be finalized. The shift of registered office to Himachal Pradesh may bring tax or regulatory benefits. Short-term stock price reaction will depend on the eventual pricing and structure of the issue.