Notice of EGM to be convened on 26/11/2025.
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Awaiting price reaction for this filing.
Cargotrans Maritime Ltd has called an EGM on Wednesday, 26th November 2025 at 4:00 PM via video conferencing to seek shareholder approval on four items. First, the company wants to increase its authorized share capital from ₹5 crore (50 lakh equity shares of ₹10 each) to ₹8 crore (80 lakh equity shares of ₹10 each) and amend the Memorandum of Association. Second, it proposes a preferential allotment of up to 15,46,500 equity shares to 33 public-category allottees at ₹120 per share (including ₹110 premium), potentially raising up to ₹18.56 crore. Third, it plans to issue up to 16,50,000 convertible warrants at ₹120 each to promoter group members (Jacob Tharakan and Ashny Binu) and 19 public-category allottees, potentially raising up to ₹19.80 crore over 18 months. Fourth, shareholders will vote on appointing Mr. Nilesh Gopal Rabadia (DIN: 07752340) as Independent Director for a 5-year term from 23/09/2025 to 22/09/2030. E-voting opens on 23rd November and closes on 25th November 2025, with cut-off date of 19th November 2025.
If approved, existing shareholders will face dilution as up to 15,46,500 fresh equity shares and 16,50,000 convertible warrants are issued, but the company could raise up to ₹38.36 crore to fund growth. The promoter group's participation in the warrants signals confidence, though stock price may see short-term pressure from the dilution of equity and the ₹120 issue price being well above face value.