Intimation of Outcome of Board meeting for allotment of Securities
Price
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CDG Petchem has allotted 61,58,000 equity shares at Rs. 41 per share (face value Rs. 10, premium of Rs. 31), raising about Rs. 25.25 crore in total. Of these, 49 lakh shares went to Jujhar Constructions and Travels Pvt Ltd (proposed promoter post open offer), and the remaining 12,58,000 shares were allotted to several non-promoter investors. Separately, the company allotted 7,64,500 convertible warrants on a preferential basis at Rs. 41 each (Rs. 10.25 upfront + Rs. 30.75 on exercise), bringing in about Rs. 78.36 lakh upfront with the potential to raise an additional Rs. 2.35 crore upon conversion. Each warrant is convertible into one equity share of Rs. 10 face value. Approvals for these allotments were obtained at the April 8, 2025 board meeting and the May 7, 2025 EGM, with BSE's in-principle approval received on May 30, 2025.
This preferential allotment will lead to dilution of existing shareholders and a change in the promoter category, as Jujhar Constructions enters as a proposed promoter. The fresh capital strengthens the company's equity base, but investors should note the significant increase in share count and the introduction of a new promoter group.