THE BOARD OF THE COMPANY AT THEIR MEETING HELD ON TODAY 28TH MAY 2026 HAS CONSIDERED AND APPROVED THE ITEMS AS MENTIONED IN THE ATTACHED FILE
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Emrock Corporation's board approved increasing authorised share capital from Rs. 30 crores to Rs. 35 crores, comprising 3.5 crore equity shares of Rs. 10 each. The company will issue up to 14,98,000 share warrants at Rs. 290 each (including Rs. 280 premium), raising approximately Rs. 43.44 crore. Each warrant is convertible into one equity share within 18 months. The issue is split between promoter group (5,00,000 warrants to 2 allottees) and non-promoter group (9,98,000 warrants to 38 allottees). An EGM has been scheduled for June 27, 2026 for shareholder approval. Notably, there are also 1,29,35,490 outstanding warrants from a May 2025 issuance pending conversion.
Significant potential dilution as the combined warrant conversion could increase share count by approximately 1.44 crore shares. The large number of warrants outstanding from previous and current issuances may weigh on the stock if the conversion price is below market rates. Promoter holding will increase from 0% to approximately 1.65% post-conversion.