The Board of Directors of the Company at their Meeting held on Today, Considered and Approved increase in Authorised Share Capital of the Company and Subsequent alteration to Clause V of ....
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Emrock Corporation's board has approved increasing the authorised share capital from Rs. 30 crore to Rs. 35 crore by adding 50 lakh equity shares of Rs. 10 each. The company will issue up to 14.98 lakh convertible warrants at Rs. 290 per warrant (including Rs. 280 premium) to raise approximately Rs. 43.44 crore. Each warrant is convertible into one equity share within 18 months, with 25% payable upfront and 75% at conversion. The issue involves 40 investors, predominantly from the non-promoter group, though promoter holding will increase from 0% to 1.65% post-conversion. An EGM has been scheduled for June 27, 2026 for shareholder approval.
This preferential warrants issue will dilute existing shareholders by approximately 5.2% upon full conversion. The Rs. 43.44 crore fundraising provides growth capital but comes with significant dilution implications for current shareholders.