Stakeholder are requested to taken on record Notice of Extra-Ordinary General Meeting is hereby given schedule to be held on 09th June 2025 at 11 .00 A.M.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indian Link Chain Manufacturers Ltd has called an EGM on 9th June 2025 (via video conferencing) to seek shareholder approval for three special business items. First, a preferential allotment of 25,50,000 equity shares at Rs. 71 per share (face value Rs. 10 + premium Rs. 61) to 16 non-promoter allottees, raising Rs. 18.10 crore. Second, a preferential issue of 53,00,000 convertible warrants (convertible into equal number of equity shares at Rs. 71 per warrant) to 8 non-promoter allottees, potentially raising an additional Rs. 37.63 crore. The largest allottee is Rajendra Chodankar, who alone is being allocated 10 lakh shares and 40 lakh warrants worth around Rs. 35.50 crore. Third, the company proposes to increase its authorised share capital from Rs. 1 crore (10 lakh shares) to Rs. 84 crore (84 lakh shares) to accommodate these and any future issuances. Shares will be subject to SEBI lock-in rules. The 'relevant date' for pricing is 10th May 2025.
Existing shareholders will face significant dilution if both the shares and warrants are fully allotted, with the non-promoter group's combined stake rising by a substantial percentage of the expanded capital base. The total potential fundraise of up to ~Rs. 55.7 crore could strengthen the company's balance sheet, but the large preferential issue at a fixed price to a small group of investors may weigh on near-term stock sentiment due to dilution concerns.