Centrum Capital Limited has informed the Exchange regarding Corrigendum to Notice of Postal Ballot dated May 26, 2025
CENTRUM · price
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Awaiting price reaction for this filing.
Centrum Capital has issued a corrigendum to its May 26, 2025 Postal Ballot Notice, providing updated shareholding patterns (pre and post issue) and revised use-of-proceeds details for the proposed preferential issue of up to 7.01 crore convertible warrants at Rs. 28.52 each, aggregating to roughly Rs. 200 crore, to JBCG Advisory Services Private Limited (a promoter group entity). The revised object of the issue is to deploy ~Rs. 140 crore towards debt repayment of the company and its subsidiaries within 12 months, Rs. 10 crore as funding support to subsidiaries for working capital within 24 months, and ~Rs. 50 crore for general corporate purposes within 24 months. Post-issue, promoter group shareholding is shown rising from 38.49% to 47.36% of the expanded equity base. E-voting for the postal ballot remains open until 5:00 p.m. on June 25, 2025, and members who have already cast their votes may modify them by writing to the scrutinizer.
Signals promoter confidence with a ~Rs. 200 crore infusion that will primarily deleverage the company and its subsidiaries, which is positive for the balance sheet. However, the warrant conversion will dilute existing non-promoter shareholders, with promoter stake rising from 38.49% to 47.36% on a fully converted basis.