PFA file outcome of EGM
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Awaiting price reaction for this filing.
Soma Papers & Industries Ltd held its 1st EGM of FY 2025-26 on 4 September 2025 via video conferencing, where all 6 special resolutions were passed. The resolutions cover: (1) increase in authorised share capital with consequent alteration of MOA and AOA, (2) issue of equity shares on a preferential basis to non-promoters for non-cash consideration, (3-4) two separate issues of equity shares on a preferential basis to non-promoters for cash, and (5-6) two separate issues of convertible warrants on a preferential basis to non-promoters for cash. Voting results show 726,911 votes (51.84% of outstanding shares) were polled, with 100% in favour and zero against on every resolution. Promoters holding 694,296 shares voted fully in favour, while only 32,615 public shares (4.6% of public holdings) participated. The scrutinizer was Manoj Parakh & Associates.
Shareholders should expect potential dilution as the company plans multiple preferential allotments of equity shares and convertible warrants to non-promoters. The authorised capital increase signals fundraising activity is imminent, which could pressure the share price in the short term but may strengthen the balance sheet if proceeds are used for growth.