Outcome of the Board Meeting held on October 11, 2025 in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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The Board of Ecoboard Industries, at its meeting on October 11, 2025, approved raising up to Rs. 17.5850 crores through a preferential issue of 52,49,252 equity shares at Rs. 33.50 per share (including a Rs. 23.50 premium). Of this, 34,32,835 shares worth about Rs. 11.5 crores will go to the Promoter and Managing Director, Ramakrishna Raju Gottumukkala, towards conversion of an existing loan. The remaining 20,14,417 shares (about Rs. 6.7 crores) will be issued for cash to four public-category allottees, including Pushkala Avenues LLP (Rs. 5 crores). The Board also approved increasing the authorised share capital from Rs. 34 crores to Rs. 36.5 crores to accommodate the new shares. An EGM has been scheduled for November 7, 2025 to seek shareholder approval.
The preferential issue will dilute existing public shareholders, with promoter holding rising from 35.02% to 39.69% post-issue. The loan-to-equity conversion is a positive as it reduces debt on the books, but the cash portion introduces fresh equity dilution. The issue price (Rs. 33.50) is only marginally above the SEBI-determined floor price of Rs. 33.47, signalling limited price discovery upside for incoming investors.