Postal Ballot on Modifying Use of Rs 30 Crore Pref Issue Proceeds
JHS · price
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JHS Svendgaard Laboratories seeks shareholder approval via postal ballot (e-voting June 30 to July 29, 2026) to modify use of about Rs 29.99 crore raised in 2024 through preferential issue of 72,07,204 equity shares and 36,03,602 warrants at Rs 27.75 each. Revised allocation: Capital Expenditure and Business Expansion at Rs 1174.99 lakh, Strategic and Growth Initiatives at Rs 1075 lakh, General Corporate Purposes unchanged at Rs 750 lakh. Total raised amount stays same. Utilization timeline extended to March 31, 2027.
Shareholders vote on revised fund use; gives company broader capital allocation flexibility, but specific projects under the new heads are less defined.