Announcement under Regulation 30 (LODR) Outcome of Board Meeting for Allotment
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Greenhitech Ventures' board, meeting on April 30, 2025, approved three allotments at Rs. 105 per share (face value Rs. 10): 74,18,237 equity shares via share swap to promoters and non-promoters, 8,71,000 equity shares to non-promoters on full subscription, and 10,37,200 convertible warrants to non-promoters on a preferential basis. Additionally, the company acquired a 76% stake in Tritech Industrial Solutions Pvt Ltd (an engineering and ethanol/power consultancy firm with Rs. 439.27 lakh turnover in FY24) through share swap worth about Rs. 2.87 crore. It also acquired a 100% stake in Greenkashi Bio Energy Pvt Ltd (a carbon manufacturing company whose turnover dropped from Rs. 792.58 lakh in FY22 to Rs. 21.48 lakh in FY24) through share swap worth about Rs. 75.02 crore. Both acquisitions were made through share swap, not cash, with immediate effect and BSE in-principal approval received on April 15, 2025.
Existing shareholders will see significant dilution from these allotments and the large share-swap acquisitions. The share-swap acquisitions bring new businesses (industrial consultancy and bio-energy/carbon) into the company, but Greenkashi's sharply declining turnover is a concern. Warrants allotted may lead to further dilution upon conversion.