Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Baroda Extrusion held an Extraordinary General Meeting on 2nd May 2025 (concluded in 30 minutes) where shareholders approved several key resolutions. Mr. Alpesh Kanugo was appointed as Whole Time Director for a 5-year term effective 6 February 2025, and three Independent Directors (Rikesh Shah, Yadunandan Patel, Rina Patel) were re-appointed. The authorised share capital was raised from Rs. 15 crore to Rs. 20 crore to accommodate fresh issuance. Shareholders also approved the issue of around 4.53 crore new equity shares (face value Re. 1) on a preferential basis at Rs. 8.25 per share - of which 2.42 crore shares go to promoter and MD Parasmal Kanugo through conversion of his existing unsecured loan, and 2.11 crore shares go to the non-promoter group. The Board was additionally given expanded borrowing powers beyond the company's paid-up capital and free reserves.
Existing shareholders face meaningful dilution as roughly 4.53 crore new shares are being issued at Rs. 8.25, which is on top of the existing equity base. On the positive side, converting the promoter's unsecured loan into equity strengthens the balance sheet by removing debt and signals promoter confidence in the business. The enlarged borrowing powers granted to the Board hint at possible future fund-raising or capacity expansion ahead.