Corrigendum to the Notice of 41st Annual General Meeting of the Company to be held on September 30, 2025
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Awaiting price reaction for this filing.
Aviva Industries Ltd has issued a corrigendum to the notice of its 41st AGM (scheduled for September 30, 2025) seeking shareholder approval to issue up to 3,10,00,000 fully convertible equity warrants on a preferential basis at Rs. 28 per warrant, aggregating up to Rs. 86.80 crore. The warrants are proposed to be allotted to 20 Public Non-Institutional Resident Individuals (each currently holding nil shares), with 25% payable upfront and the balance 75% on conversion within 18 months. The floor price as per the registered valuer is Rs. 26.60 per share. If fully converted, the total equity share count would balloon from about 14.99 lakh to 3.25 crore shares, reducing promoter holding from 65.30% to roughly 3.01% — an extreme dilution. Stated use of proceeds includes fixed assets (Rs. 10 crore), working capital for agro business, and general corporate purposes.
This is a highly dilutive preferential issue that could shrink existing shareholders' stake drastically — promoter holding falls from ~65% to ~3% on full conversion, signalling major equity restructuring. The stock is likely to react negatively on dilution concerns, though the Rs. 86.80 crore raise is sizeable relative to the company's small pre-issue market footprint and could be sentiment-positive if execution is clean.