The Company has informed the BSE that Board of Directors of the Company in their meeting held today on April 07, 2025, has decided to amend the capital clause of Memorandum of Association ....
BONLON · price
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Bonlon Industries' board, meeting on April 7, 2025, approved raising authorized share capital from Rs. 15 crore to Rs. 35 crore (1.5 crore shares to 3.5 crore shares of Rs. 10 face value). It also approved issuing up to 2,00,60,000 fully convertible warrants on a preferential basis at Rs. 33 per warrant, aiming to raise up to Rs. 66.19 crore. Allottees include the promoter/promoter group (97 lakh warrants) and non-promoter public investors (1.03 crore warrants), with 25% upfront payment and the balance due on conversion within 18 months. Shareholder approval will be sought via postal ballot, with the e-voting cut-off date fixed at April 4, 2025.
This is a significant equity dilution event: on full conversion, public shareholding will rise from 33.26% to 44.03% while promoter holding will drop from 66.74% to 55.97%. The Rs. 66 crore fundraise strengthens the company's financial resources, though existing shareholders face meaningful dilution. Promoters are also participating, which signals some confidence.