The Board of Directors at their meeting held on October 17, 20225 at 5.00 PM has approved the allotment of Convertible Warrants and Equity Shares on preferential basis.
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On October 17, 2025, the board of La Tim Metal & Industries approved issuing 3.5 crore convertible warrants to the promoter/promoter group and 1.58 crore equity shares to non-promoters, both at Rs. 10 per unit (including Rs. 9 premium) on a preferential basis, subject to shareholder approval at an EGM on November 15, 2025. The total potential capital raise is up to approximately Rs. 50.86 crore, with warrants requiring only 25% upfront payment and balance on conversion within 18 months. The promoter group receiving warrants includes members of the Timbadia family, who currently hold a majority stake in the company. Separately, the board also approved acquiring 1177.1 guntha of land in Raigad district from the promoters for Rs. 16 crore, classified as a related party transaction stated to be at arm's length, intended for residential, commercial, or industrial development. There are 79 non-promoter allottees, mostly small individual investors and HNIs.
Existing shareholders will face significant dilution as over 5 crore new shares/warrants are issued, expanding the equity base substantially. The large pool of small non-promoter allottees (79 investors) suggests broad retail/HNI participation rather than a marquee institutional investor. Investors should also note the Rs. 16 crore related-party land purchase from promoters, which, while stated to be at arm's length, warrants close scrutiny given the promoter-linked nature of the deal.