The Company has submitted the notice of postal ballot dated 07th April 2025 to BSE.
BONLON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Bonlon Industries has sent a postal ballot notice to shareholders seeking approval via e-voting between April 9 and May 8, 2025. The first resolution proposes increasing the company's authorized share capital from Rs. 15 crore to Rs. 35 crore (1.5 crore equity shares to 3.5 crore shares of Rs. 10 face value each). The second, special resolution proposes a preferential allotment of up to 2,00,60,000 fully convertible warrants at Rs. 33 per warrant, aggregating up to Rs. 66.20 crore. Out of these, 97,00,000 warrants are earmarked for the promoter and promoter group (including the Managing Director Arun Kumar Jain and related entities), while 1,03,60,000 warrants are allocated to non-promoter public category allottees. The warrants must be converted into equity shares within 18 months of allotment, with 25% upfront payment and the remaining 75% on exercise. Proceeds are intended for working capital, capital expenditure, and general corporate purposes.
If approved, the preferential warrant issue could result in significant dilution for existing public shareholders, with up to 2 crore new shares potentially being added to the equity base. Promoter entities will also increase their stake, which may be viewed as a confidence signal but could weigh on near-term earnings per share due to the expanded share count.