DRC Systems India Limited has informed the Exchange about Preferential issue
DRCSYSTEMS · price
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DRC Systems India's board has approved a preferential issue of 1,00,00,000 equity shares (1 crore) at Rs. 25 per share to Shiv Minechem, a non-promoter entity, for a total of Rs. 25 crores. Each share has a face value of Rs. 1 with a Rs. 24 premium. Post-allotment, Shiv Minechem will hold 6.94% of the company. The board also approved increasing authorized share capital from Rs. 15 crores to Rs. 17.5 crores to accommodate the new shares. Separately, three independent directors — Keyur Shah, Jigar Shah, and Dipti Chitale — were re-appointed for a second five-year term. The 13th AGM is scheduled for September 25, 2025 via video conferencing.
The preferential issue at Rs. 25 per share will dilute existing shareholders by about 6.94% and bring in Rs. 25 crores from a single new investor. Shareholders should note the potential dilution effect, though the capital infusion could fund growth. The re-appointments of independent directors maintain board continuity with no governance changes.