Addendum to the Notice of 47th Annual General Meeting of Centrum Capital Limited
CENTRUM · price
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Centrum Capital Limited has issued an addendum to its 47th AGM notice (scheduled for August 8, 2025) to seek shareholder approval for a preferential issue of up to 5,01,91,537 equity shares at Rs. 34.38 per share (face value Re. 1, premium Rs. 33.38), aggregating to about Rs. 172.56 crore. The shares will be allotted to 55 identified non-promoter allottees, including several AIFs, foreign funds, HUFs, and individual investors, with Negen Undiscovered Value Fund getting the largest allotment (72.71 lakh shares). The proceeds will be used to prepay/repay debt of the company (Rs. 80 crore) and its subsidiaries (Rs. 52 crore), with the balance of about Rs. 40.56 crore for general corporate purposes. The floor price has been determined as of the relevant date of July 9, 2025, based on a valuation report by a registered valuer. Promoters, directors, and KMPs are not subscribing, and there will be no change in control of the company.
Existing shareholders will see dilution of roughly 10.95% on a post-issue basis as new non-promoter investors come in. The capital raise is aimed at deleveraging the group, which has significant debt maturities, and may reduce finance costs going forward. Share price could react to the issue price relative to market price and the dilutive impact, though the use of proceeds for debt reduction is broadly positive for the balance sheet.