Raising of funds upto Rs. 17.5850 Crores through preferential issue of securities
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ecoboard Industries' board has approved raising up to Rs. 17.585 Crores via a preferential issue at Rs. 33.50 per security, which is slightly above the SEBI-determined floor price of Rs. 33.4742. The fundraising consists of 18,07,835 convertible warrants worth Rs. 6.06 Crores (issued to promoter Ramakrishna Raju Gottumukkala against loan conversion) and 34,41,417 equity shares worth Rs. 11.53 Crores (partly to promoter against loan conversion, partly to four public allottees in cash). The company has also increased its authorised share capital from Rs. 34 Crores to Rs. 36.5 Crores to accommodate the issue. Shareholder approval will be sought at an EGM scheduled for November 7, 2025. The stated purpose of the fundraise is repayment or appropriation of existing debt.
This is a dilutive issuance — on a fully diluted basis, the promoter group's stake will rise from 35.02% to 39.69%, while the public shareholding will shrink from 64.98% to 60.31%. Existing minority shareholders should note that the issue price is only marginally above the regulatory floor, and the primary use of proceeds is debt reduction rather than fresh growth investment.