Halder Venture Limited has informed the Exchange regarding Corrigendum to Notice of Postal Ballot
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Halder Venture Limited has issued a corrigendum to its postal ballot notice for a preferential issue of up to 7,93,650 convertible warrants to P.K. Bio Link Private Limited (a non-promoter entity). The warrants are priced at Rs. 315 per warrant, determined via an independent valuation report. The total issue size is approximately Rs. 25 crore, with proceeds earmarked for capital expenditure including installation of a 500 metric ton edible oil refining unit at the Haldia Unit, expansion of rice mill capacity from 50% to 70-80%, and augmentation of working capital. The proposed allottee will hold 5.99% of post-issue share capital upon full conversion of warrants, with no change in control of the company. The corrigendum was issued following observations from NSE and BSE requiring clarifications.
The preferential issue will dilute existing shareholders by about 6% upon warrant conversion, but the capital raised will fund edible oil business expansion. Shareholders should note the warrant exercise timeline and potential future dilution.