Dear Sir, We are enclosing herewith an outcome of the Board meeting.
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Aveer Foods has allotted 2,26,087 fully paid-up equity shares of Rs. 10/- face value at Rs. 575/- each (including a premium of Rs. 565/-) to promoter Mr. Vishal Rajkumar Chordia upon conversion of warrants originally issued on 20th March 2025 on a preferential basis. The total issue size is approximately Rs. 13 crore. As a result, the company's paid-up equity capital has increased from Rs. 4.25 crore to Rs. 4.48 crore. The balance 2,26,087 warrants held by Mr. Rajkumar Hukmichand Chordia were apparently not exercised within the 18-month conversion window. Only 1 investor (the promoter) participated in this conversion.
This is a positive signal of promoter confidence, as the promoter has put in additional capital of roughly Rs. 13 crore into the company. There is a small dilution effect for existing shareholders from the new share issuance, but the promoter group's overall stake strengthens.