Outcome of Board Meeting held on 09 December 2025
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The Board of Bazel International Ltd, at its meeting on 9 December 2025, approved two main items. First, it increased the authorised equity share capital from Rs. 3.5 crore (35 lakh shares of Rs. 10 each) to Rs. 4 crore (40 lakh shares), creating 5 lakh additional shares within the overall Rs. 75 crore ceiling already approved by shareholders. Second, it approved a preferential allotment of 10,69,189 equity shares at Rs. 66.95 each (face value Rs. 10 + premium of Rs. 56.95) to convert unsecured loans totalling Rs. 7.16 crore into equity. Allottees are Panafic Industrials Ltd (3,06,797 shares against a loan of Rs. 2.05 crore) and Chaser Financial Services Pvt Ltd (7,62,392 shares against a loan of Rs. 5.10 crore). BSE had already granted in-principle approval for this preferential issue on 24 November 2025. The new shares will rank equally with existing equity shares.
This is a debt-to-equity swap that wipes out about Rs. 7.16 crore of unsecured loans but dilutes existing shareholders by roughly 23% (10.69 lakh new shares vs. 35 lakh existing shares). The allotment price of Rs. 66.95 is significantly above the Rs. 10 face value, so the issue is happening at a healthy premium rather than a discount to market.