Kshitij Polyline Limited has informed the Exchange regarding Proceedings of Postal Ballot
KSHITIJPOL · price
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Kshitij Polyline Limited informed the NSE that shareholders approved two resolutions through a postal ballot (remote e-voting) on July 23, 2025. The first resolution increases the company's authorized share capital and amends the Memorandum of Association accordingly. The second resolution approves a preferential issue of approximately 6.52 crore equity shares on a private placement basis to 18 identified non-promoter individuals and companies. The total value of the issue is about Rs. 26.10 crore, of which roughly Rs. 15.62 crore comes as fresh cash and about Rs. 10.48 crore is being raised by converting existing unsecured loans into equity. The largest allottees are Bhavishya E-Commerce Pvt Ltd (1.25 crore shares) and Potential Electrical & Electronics Pvt Ltd (1.37 crore shares), both receiving shares entirely against loan conversion.
Existing shareholders will face significant dilution as over 6.5 crore new shares are being issued. The company simultaneously strengthens its balance sheet by converting nearly Rs. 10.5 crore of unsecured debt into equity, which reduces liabilities, while also bringing in fresh cash of around Rs. 15.6 crore for business use.