Revision in announcement under Regulation 30 of SEBI (LODR )2015 -fund raising by way of issue of convertible warrant
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Expo Gas Containers Ltd is raising up to Rs. 22.02 crore by issuing 36,70,000 fully convertible warrants at Rs. 60 each (face value Rs. 4, premium Rs. 56) to promoter and non-promoter investors on a preferential basis. Promoter Murtuza S. Mewawala will get 15,55,000 warrants, Hasanain S. Mewawala 1,65,000, while non-promoters Aegis Investment Fund PCC-Niveza (16,50,000), Mumtaz Nathani, Imran Salim Bachooali, and Yasmin Merchant will each get 1,00,000 warrants. Allottees must pay 25% upfront with the balance 75% due on conversion within 18 months. This is a revised filing — the total fund raised stays the same at Rs. 22.02 crore, but the promoter-internal allocation has been adjusted. An EGM is scheduled for June 27, 2025, to seek shareholder approval.
Post-issue, promoter Murtuza S. Mewawala's stake rises from 11.33% to 15.63%, strengthening promoter control, while Aegis Investment Fund would emerge as a notable non-promoter shareholder at 9.17%. Existing shareholders should watch for potential dilution once warrants convert, though warrant price of Rs. 60 represents a significant premium over face value, and the EGM approval remains a key event.