EGM for approval of following special businesses: 1. Approval for Increase in Authorised Share Capital of the Company. 2. Preferential issue of equity shares 3. Preferential issue of ....
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Ecoboard Industries has called an EGM on November 7, 2025 to seek shareholder approval for three items. First, increase authorised share capital from ₹34 crore to ₹36.5 crore by adding 25 lakh new equity shares of ₹10 each. Second, issue 34,41,417 equity shares on a preferential basis at ₹33.50 per share (₹23.50 premium) — of which 16,25,000 shares worth ₹5.44 crore will go to promoter G.R.K. Raju to settle his existing unsecured loan to the company, and 18,16,417 shares worth about ₹11.53 crore will go to four non-promoter allottees for cash. Third, issue 18,07,835 convertible warrants to the same promoter at ₹33.50 each (aggregating up to ₹6.06 crore), convertible into equity within 18 months, also against his existing unsecured loans.
Existing shareholders face dilution both from the new equity shares and from potential warrant conversion by the promoter. The promoter-led portion is a debt-to-equity swap, which should clean up the balance sheet by converting unsecured loans into equity, but it concentrates ownership further with the promoter. The cash portion from non-promoters will bring in fresh funds of roughly ₹11.5 crore.