Outcome of the Board Meeting held for Increasing the Authorised Share Capital of the company and for approval of Fund Raising by the issuance of Equity Shares and Convertible warrants on ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Chandni Machines Ltd's board approved increasing the company's authorised share capital from Rs 3.25 crore to Rs 11.5 crore (comprising 1.15 crore equity shares of Rs 10 each). The board cleared a preferential allotment of 41,84,000 equity shares to public-category investors at Rs 52.50 per share, raising about Rs 21.97 crore. Separately, 40,00,000 convertible warrants (worth about Rs 21 crore) will be issued to promoter Jayesh R. Mehta at the same issue price, convertible within 18 months. The list of equity allottees includes over 80 individuals, HUFs, and small entities, with the largest single allotment being 6,30,000 shares. After full allotment and warrant conversion, promoter holding will rise from 45.7% to about 48%, while public holding will come down from 54.2% to 52%. An EGM has been scheduled for November 27, 2025 to seek shareholder approval.
Existing public shareholders will see dilution of their stake from 54.2% to about 52% once the warrants convert, though the promoter is also putting in fresh capital via warrants, signalling commitment. The fund raise of around Rs 43 crore should strengthen the company's balance sheet, but the stock may face short-term pressure as the issue price (Rs 52.50) is well above face value and depends on prevailing market price.