Aurum PropTech Limited has informed the Exchange regarding Notice of Postal Ballot
AURUM · price
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Aurum PropTech Limited has issued a Postal Ballot Notice seeking shareholder approval via remote e-voting (May 8 – June 7, 2025) for five items. The key proposal is raising up to Rs. 600 Crore through Equity Shares, convertible securities, or Non-Convertible Debentures via Rights Issue, FPO, QIP, or Preferential Issue, with a separate specific approval for a QIP of up to Rs. 300 Crore within that overall limit. The QIP pricing allows a discount of up to 5% on the SEBI floor price, must be completed within 365 days, and includes a 1-year lock-in for allottees. The company also seeks approval to vary the objects of its earlier 2022 Rights Issue to add Bondsbrain Technologies as an investment target and to use unutilized proceeds for loan repayment. Other items include appointing Mr. Ashish Deora as a Non-Executive Non-Independent Director and approving material related party transactions.
Shareholders will vote on a sizeable capital raise that could lead to equity dilution; approval of QIP up to Rs. 300 Crore at up to 5% discount to floor price signals near-term dilution risk. The proposed change in use of the 2022 Rights Issue proceeds toward debt repayment and a new investee company (Bondsbrain Technologies) suggests a shift in capital allocation priorities.