Please find attached Notice Convening the 01/2025-26 Extra-Ordinary General Meeting("EGM") Of The Company.
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Golden Legand Leasing & Finance Ltd has called an EGM on March 10, 2026 (via video conferencing) to seek shareholder approval for issuing up to 6.63 crore convertible share warrants on a preferential basis to non-promoter entities and individuals. The warrants will have a face value of Rs. 10 each and will be issued at Rs. 12.96 per warrant (including a Rs. 2.96 premium), raising up to Rs. 85.99 crore in total. Each warrant can be converted into one equity share within 18 months, with 25% payable upfront and the remaining 75% at the time of conversion. At least 76% of the funds (around Rs. 65.35 crore) will be used for working capital and business expansion, while up to 24% (around Rs. 20.64 crore) will go toward general corporate purposes. The company has identified 23 non-promoter allottees, including several private limited companies and individuals, with no allottee crossing the 25% post-issue shareholding threshold.
If approved, the company will raise approximately Rs. 86 crore to strengthen working capital and fund growth, which is positive for operations. However, conversion of these warrants into equity shares will lead to dilution of existing shareholders' ownership. Since the issue price (Rs. 12.96) is only marginally above face value, the dilution is the key concern for current shareholders.