Corrigendum is issued in continuation of original Notice of postal Ballot dated 31st July, 2025
Awaiting price reaction for this filing.
Sellwin Traders has issued a corrigendum to its postal ballot notice dated July 31, 2025, updating Resolution No. 2 regarding the issuance of up to 4.75 crore convertible warrants at ₹8.40 each, each convertible into one equity share of face value ₹2 (premium ₹6.40), aggregating up to ₹39.90 crore. All 103 proposed allottees belong to the non-promoter category, with no allottee receiving more than ~1.44% post-issue holding. The company plans to use the proceeds to invest ₹12 crore in subsidiary SDF Productions for 6 new Maajghar retail stores, ₹8 crore in Damask Jewellery for showrooms and bullion, ₹4 crore in a Dubai-based IT firm, ₹6 crore in a US contracting company, ₹8 crore for working capital, and ₹2 crore for general corporate purposes. The relevant date for pricing is August 1, 2025, with 25% payable upfront and 75% on conversion within an 18-month window.
This is a significant dilutive fundraising exercise — if all warrants are converted, the equity base could grow by roughly 1.7x, leading to meaningful dilution for existing shareholders. The diversified use of proceeds (domestic retail expansion, overseas investments, working capital) signals an aggressive growth push, but the heavy overseas allocation and reliance on 103 small allottees add execution and governance risk.