Goldiam International Limited has informed the Exchange regarding Notice of Postal Ballot
GOLDIAM · price
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Awaiting price reaction for this filing.
Goldiam International Limited has sent a Postal Ballot Notice to shareholders seeking approval for raising up to Rs. 400 Crores through the issuance of equity shares and/or equity-linked securities via the Qualified Institutions Placement (QIP) route. The funds can be raised in one or more tranches from qualified institutional buyers, subject to SEBI ICDR Regulations, with a floor price to be determined as per the prescribed formula (and up to a 5% discount at the Board's discretion). The remote e-voting window runs from May 10, 2025 to June 8, 2025, with the cut-off date set as May 3, 2025; MUFG Intime India is the e-voting agency and Mr. Rajnikant Shah is the scrutinizer. If approved, the Board has 365 days to complete the allotment, securities must rank pari-passu with existing shares, allottees cannot sell for 1 year, and no single allottee can get more than 50% of the issue size.
This is a significant potential equity dilution event for existing shareholders; however, since proceeds will be used for general corporate purposes (specific use not disclosed in the notice), the market impact will depend on the timing, pricing, and size of the actual QIP raise. Shareholders should vote in the e-voting window and watch for the floor price announcement, as the issue price relative to market price will directly affect dilution.