Announcement under regulation 30 (LODR) - Preferential Issue
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Artificial Electronics Intelligent Material Ltd (formerly Datasoft Application Software India Ltd) held a board meeting on June 12, 2025, and approved multiple actions. The board approved a preferential issue of up to 1,24,67,500 equity shares at ₹40 each (face value ₹10, premium ₹30), aggregating about ₹49.87 crore, to 133 non-promoter allottees. It also approved issuing up to 1,18,00,000 convertible warrants at ₹40 each to 3 promoter group members (Nandam family), aggregating ₹47.20 crore, with 25% payable upfront and 75% on conversion within 18 months. Two new Independent Directors were appointed for 5-year terms: Mr. Alan M Wagner (CEO of Nisene Technology Group, a US semiconductor equipment firm) and Mr. S Balasubramanian (ex-Defense with 30+ years in project operations). The board also appointed M/s. Jitendra Parmar & Associates as Secretarial Auditor for 5 years and fixed July 12, 2025 as the date for the 33rd AGM via video conferencing.
The combined preferential equity and warrants issue of nearly ₹97 crore will dilute existing shareholders significantly, with promoter holdings rising and non-promoter group expanding from about 16% to over 65% post-issue. The stock may face short-term dilution pressure, though the promoter participation signals confidence. Retail investors should watch for the issue price relative to prevailing market price once shareholder approval is sought at the July 12, 2025 AGM.