Revised outcome of Board Meeting held on 07th August 2025.
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Awaiting price reaction for this filing.
Soma Papers & Industries Ltd has submitted a revised outcome of its Board Meeting held on 7th August 2025, correcting only clerical errors in the earlier disclosure with no change in substance. The company proposes a preferential issue of up to 4,86,67,850 equity shares of Rs. 10 each at Rs. 20 per share, raising up to Rs. 97.34 crore from non-promoter investors. All allotments are to non-promoters, with the largest going to Jitendra Rasiklal Sanghavi and Hitesh Natwarlal Kawa (54 lakh shares each, ~3.29% post-issue stake each). A total of 75+ allottees are listed, and after the issue, these non-promoter allottees will collectively hold 29.66% of the company.
Existing shareholders face significant dilution of around 29.66% as the equity base expands. The issue price of Rs. 20 is at a premium to face value (Rs. 10), but the large-scale preferential allotment to non-promoters could weigh on the stock in the short term.