Le Merite Exports Limited has informed the Exchange about issue of Securities
LEMERITE · price
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Awaiting price reaction for this filing.
The board of Le Merite Exports has approved a preferential issue to raise up to about Rs. 35.95 crore from non-promoter investors. This includes up to 86,400 equity shares at Rs. 320 per share (a premium of Rs. 310 over the face value of Rs. 10), totalling Rs. 2.76 crore, and up to 10,37,000 fully convertible warrants at the same price of Rs. 320, totalling Rs. 33.18 crore. Warrant holders need to pay 25% upfront (Rs. 80 per warrant) and the remaining 75% within 18 months upon conversion into equity shares. The allotments are spread across 43 identified non-promoter individuals, HUFs, and entities, with the largest single allottee receiving 5,21,000 warrants (about 2% post-issue holding).
The fundraise will dilute existing shareholders, though no promoter shares are being issued. The Rs. 320 issue price is at a premium, suggesting the company is raising capital at favourable terms. Shareholders should watch for the EGM on August 4, 2025, where approval will be sought.