Kindly find attached In-principle Approval for Issue of Equity Shares
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BSE has given in-principle approval for Corporate Merchant Bankers Ltd to issue equity shares on a preferential basis in two tranches at a price not less than Rs. 16.08 per share (face value Rs. 10). The first tranche is 93,28,358 shares (~Rs. 15 crore) to non-promoters, and the second is a much larger 5,07,75,761 shares (~Rs. 81.65 crore) to non-promoters against conversion of an existing loan. Total preferential issue is about 6.01 crore shares worth ~Rs. 96.65 crore. The approval is dated November 18, 2025, and the company will now work toward allotment and listing formalities.
Existing shareholders face significant equity dilution, with share count set to expand sharply. The bulk of the new equity is being issued to extinguish debt, which could strengthen the balance sheet but substantially reduces existing holders' ownership percentage and depends on the loan being valid and enforceable.