The Company has informed the BSE that the Board of Directors in their meeting held today on April 07, 2025, has decided to raise funds by way of issuance of fully convertible warrants on ....
BONLON · price
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The Board of Bonlon Industries met on April 7, 2025 and approved raising up to Rs. 66.19 crore by issuing 2,00,60,000 fully convertible warrants at Rs. 33 per warrant on a preferential basis. Of these, 97,00,000 warrants are earmarked for the Promoter and Promoter Group, and 1,03,60,000 warrants for the Non-Promoter, Public Category. Warrant holders must pay 25% upfront, with the balance due within 18 months or the warrants will lapse. The Board also approved increasing the authorised share capital from Rs. 15 crore to Rs. 35 crore (from 1.5 crore to 3.5 crore equity shares of Rs. 10 each) to accommodate the conversion. Shareholders' approval will be sought via postal ballot.
If fully converted, the promoter group's holding will fall from 66.74% to 55.97%, while the public shareholding will rise from 33.26% to 44.03%, leading to meaningful dilution for existing shareholders. The Rs. 66 crore infusion can strengthen the company's balance sheet for business growth, but the stock may see near-term pressure on announcement of a large preferential issue.