Announcement under Regulation 30 (LODR) - Allotment
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CWD Ltd's board approved the allotment of 4,82,043 equity shares at Rs. 907 each (Rs. 10 face value + Rs. 897 premium), raising about Rs. 43.72 crores on a preferential basis. Additionally, 4,76,868 convertible warrants were allotted at the same price, with 25% subscription money (about Rs. 10.81 crores) already received and the remaining 75% payable within 18 months upon conversion. A total of 49 investors received equity shares and 41 received warrants, mostly individuals and small entities/firms. Another board meeting is scheduled for April 9, 2025 to clear the balance pending allotments where funds are still awaited.
The company is raising fresh capital from a broad pool of investors, which will dilute existing shareholders both immediately and potentially further if the warrants are fully converted. Since this was done on a preferential basis, retail shareholders did not get a chance to participate. The Rs. 54+ crore infusion should strengthen the company's funds, but the use of proceeds is not disclosed in this filing.