RAISING OF FUNDS THROUGH PREFRENTIAL ISSUE OF WARRANTS WHOSE DETAILS ARE ENCLOSED.
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The board of Hi-Klass Trading and Investment Ltd, meeting on September 1, 2025, approved issuing up to 2,00,00,000 convertible warrants at Rs. 25 each (face value Rs. 5), aiming to raise up to Rs. 50 crore on a preferential basis. The warrants, offered to promoter group entity Nico India Consultancy LLP and around 32 non-promoter allottees (mostly individuals and a few small entities), require 25% upfront payment with the balance due on conversion within 18 months. The board also approved increasing authorized share capital from Rs. 7.5 crore to Rs. 17.5 crore to accommodate the potential conversion. Additionally, Independent Director Mrs. Sonu Agarwal resigned citing personal reasons, and Mr. Navin Kumar Jain was appointed as an Additional Non-Executive, Non-Independent Director.
The preferential warrant issue at a significant premium (Rs. 25 vs Rs. 5 face value) signals promoter and select investor confidence, but the large potential dilution (up to 2 crore shares) could weigh on existing shareholders once warrants convert. Shareholders should watch the AGM on September 27, 2025 for final approval.