Le Merite Exports Limited has informed the Exchange regarding Board meeting held on July 10, 2025.
LEMERITE · price
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On the reaction day the stock moved 3.2 pts more than Nifty Microcap 250 and 3.1 pts more than its Trading - Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Le Merite Exports' board, at its meeting on July 10, 2025, approved a preferential issue to 43 non-promoter investors to raise up to about Rs. 35.95 crore. This includes 86,400 equity shares at Rs. 320 per share (aggregating Rs. 2.76 crore) and up to 10,37,000 fully convertible warrants at Rs. 320 per warrant (aggregating Rs. 33.18 crore), with 25% upfront payment and the rest on conversion within 18 months. The board also appointed M/s. Prachi Bansal & Associates as secretarial auditor for 5 years (FY 2025-26 to FY 2029-30) and Mr. Arpit Sharma as the new Company Secretary & Compliance Officer. An EGM is scheduled for August 4, 2025 to seek shareholder approval, with July 28, 2025 as the e-voting cut-off date.
The preferential issue will lead to dilution for existing shareholders once the warrants are converted, while bringing in fresh capital to the company. The price and approvals are still subject to shareholder nod at the August 4 EGM, so the actual impact on the stock will depend on market perception of the fundraising rationale and any post-announcement price movement relative to the Rs. 320 issue price.