Outcome of Board Meeting held on 08th April 2025 resolved as: 1. Increase of Authorised Share Capital 2. Issue of equity shares of the Company to Proposed Promoter and Non-Promoter category ....
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CDG Petchem's board, meeting on April 8, 2025, approved raising the authorised share capital from ₹5 crore to ₹10 crore (50 lakh to 1 crore equity shares of ₹10 each). It also cleared a preferential issue of up to 61,58,000 equity shares at ₹41 per share to promoter Jujhar Constructions and Travels (49 lakh shares) and nine non-promoter investors, raising around ₹25.25 crore. Separately, up to 7,64,500 warrants convertible into equity shares at ₹41 each were approved, raising another ₹3.13 crore, with an 18-month exercise window. The board also approved acquiring not less than 51% of Jujhar Logistic and Travels Limited (a car logistics firm with FY25 turnover of ₹113.85 crore) for cash, making it a subsidiary. An EGM is scheduled for May 7, 2025 to seek shareholder approval for these items.
Existing shareholders will see dilution from the preferential share and warrant issues, though the promoter group is the largest subscriber, reinforcing promoter control. The acquisition marks a strategic diversification into specialised logistics, substantially expanding the company's revenue base. Short-term stock reaction depends on investor view of the dilution, pricing, and the strategic fit of the logistics acquisition.