EGM notice corrected for proposed preferential share allottees
DPABHUSHAN · price
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On the reaction day the stock moved 4.3 pts less than Nifty Microcap 250 and 3.9 pts less than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board replaced Vedcroft Ventures and Deepak Gadia with Samiksha Mogra, Devendra Sharma, Jai Kishan Jasmatiya, Pawan Kripashankar Gupta and Gayatri Dharmendra Prajapat for the same 11,195 shares and Rs 1.60 crore. The October 29 EGM will still consider 8,66,434 shares and 30,35,711 warrants at Rs 1,430 each, raising up to Rs 558.01 crore. Each warrant converts into one share. Approvals remain pending; other terms are unchanged.
The recipient change does not alter the issue size or price. If approved, new shares and warrant conversions could dilute existing shareholders.