1. Approved Raising of funds by way of issue of 12,90,000 (Twelve Lakh Ninety Thousand) Convertible Warrants into 12,90,000 (Twelve Lakh Ninety Thousand) equity shares of face value Rs.10/- ....
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The board of Golkunda Diamonds & Jewellery Ltd approved raising funds by issuing 12,90,000 convertible warrants (convertible into equal number of equity shares of face value Rs. 10 each) to 24 non-promoter allottees on a preferential basis at Rs. 214 per warrant, totalling approximately Rs. 27.6 crore. An Extra-Ordinary General Meeting has been scheduled for 9th March 2026 to seek shareholder approval. Separately, the board approved a business expansion plan to begin manufacturing fine jewellery in diamonds, gold, gemstones, jadau and lab-grown diamonds for the Indian domestic market, with the company currently operating only from SEZ (SEEPZ) facilities. The expansion involves adding 75-100 Kg per annum capacity (against existing 300 Kg at 76.66% utilisation) at an investment of about Rs. 5 crore funded through internal accruals, targeting prominent retail chains across Indian cities.
The ~Rs. 27.6 crore preferential warrant issue to non-promoters will lead to equity dilution upon conversion, but signals confidence from external investors willing to pay a substantial premium over face value. The domestic market expansion, particularly into lab-grown diamonds, opens a new growth avenue beyond export-dependent SEZ operations, though near-term capacity addition is modest.