Please find attached updated revised outcome of Board Meeting.
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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.
The board of Koura Fine Diamond Jewelry Ltd, which met on June 6, 2025, approved raising funds through a preferential issue. The company will issue 6.5 lakh equity shares at Rs. 31.30 per share to a new allottee (Jeetkumar Makadia, who will move from non-promoter to promoter category), bringing in about Rs. 2.03 crore. It will also issue 25 lakh convertible warrants at Rs. 31.30 each to 31 investors (promoters and non-promoters), potentially raising another Rs. 7.82 crore when converted within 18 months. To accommodate this, the board approved increasing the authorized share capital from Rs. 4 crore to Rs. 7.20 crore and amending the Articles of Association to enable such issues. An Extra-Ordinary General Meeting has been scheduled for July 2, 2025 to seek shareholder approval for these proposals.
If approved, existing shareholders will face significant dilution as up to 31.5 lakh new shares (equity + warrants) could be issued, expanding the equity base meaningfully. The fundraise at Rs. 31.30 per share is well above the face value of Rs. 10, so the company gets a premium, but retail investors should watch for potential share price pressure once the dilution kicks in.