Kshitij Polyline Limited has informed the Exchange regarding allotment of 7025000 securities pursuant to Preferential Issue at its meeting held on August 30, 2025
KSHITIJPOL · price
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Kshitij Polyline has allotted 70,25,000 fully paid-up equity shares at Rs. 4 per share (face value Rs. 2), raising Rs. 2.81 crore in total, as the first tranche (Allotment-1) of a larger preferential issue of 6,52,44,398 shares approved by shareholders on July 23, 2025. Of this tranche, Rs. 2.15 crore came in cash and Rs. 66 lakh came from conversion of an existing unsecured loan owed to one of the allottees. Three non-promoter allottees participated: individuals Deepak Naita and Goutam Bhowmick (12.5 lakh shares each, paid fully in cash) and Paritosh Electricals Pvt Ltd (45.25 lakh shares, partly via loan conversion and partly cash). Post-allotment, paid-up equity capital rose from Rs. 26.29 crore to Rs. 27.70 crore.
The Rs. 4 issue price is at a 100% premium to the Rs. 2 face value, which is a mildly positive signal that the company could raise capital above par. However, this is just the first slice of a much larger preferential issue of 6.52 crore shares, so existing shareholders should expect significant further dilution across upcoming tranches. Partial debt-to-equity conversion is mildly favorable for the balance sheet.