Kridhan Infra Limited has informed the Exchange regarding Board meeting held on May 20, 2025. Approval for the issuance of up to 10,27,00,000 (Ten Crore Twenty Seven Lakh)equity shares and/or warrants convertible into equity shares, at a minimum issueprice of Rs. 4/- (Rupees Four Only) each, or such higher price as may bedetermined in accordance with the Securities and Exchange Board of India (Issueof Capital and Disclosure Requirements) Regulations, 2018 ( SEBI ICDRRegulations ), as amended.
KRIDHANINF · price
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Kridhan Infra Limited's board, at its meeting on May 20, 2025, approved issuing up to 10,27,00,000 (10.27 crore) equity shares and/or warrants convertible into equity shares on a preferential basis. The minimum issue price is set at Rs. 4 per share (face value Rs. 2), with the final price to be determined per SEBI ICDR regulations. The issue is earmarked for 11 specific investors, including promoter Anil Dhanpat Agrawal and Kridhan Petrochemicals Private Limited, along with 9 non-promoter entities such as ADA 360 LLP, Pankaj Kapasi, and Shashwat Agrawal. At the minimum price, the total potential raise is approximately Rs. 41 crore. The issue is subject to shareholder approval, for which a postal ballot notice has been approved.
This preferential allotment will lead to dilution of existing shareholders and is contingent on postal ballot approval. With the minimum price set at just Rs. 4 (close to face value), it suggests the current market price may be hovering near this level, meaning the stock could remain under pressure post-issue. Existing shareholders should watch for the postal ballot outcome and any further announcements on the final pricing.