Please find attached Notice of EGM Scheduled to be held on 02nd July, 2025.
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Awaiting price reaction for this filing.
Koura Fine Diamond Jewelry Limited has called an EGM on July 2, 2025 to seek shareholder approval for four key items. First, to increase the authorized share capital from Rs. 4 crore (40 lakh equity shares) to Rs. 7.20 crore (72 lakh equity shares). Second, to alter the Articles of Association to enable preferential issues. Third, to issue 6,50,000 equity shares on a preferential basis at Rs. 31.30 per share (including Rs. 21.30 premium), aggregating Rs. 2.03 crore, to Jeetkumar Nileshkumar Makadia, who will be inducted as a new promoter. Fourth, to issue 25,00,000 convertible warrants at Rs. 31.30 per warrant, aggregating Rs. 7.82 crore, to existing promoters and non-promoters (with 25% upfront payment and 18-month exercise window). The total amount to be raised is approximately Rs. 9.86 crore, intended for working capital and general corporate purposes.
Existing shareholders will face equity dilution of up to 31.5 lakh shares (if all warrants are converted) plus the 6.5 lakh new shares, roughly a 47% potential expansion of the equity base. The promoter family's stake will increase through warrant subscriptions and a new individual promoter is being added. The issue price of Rs. 31.30 per share provides a useful reference for the stock's near-term fair value range.