Lokesh Machines Limited has informed the Exchange about Shareholders meeting
LOKESHMACH · price
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Lokesh Machines Limited has called an Extra-Ordinary General Meeting (EGM) on April 3, 2026 at 11:00 AM via video conferencing to seek shareholder approval for three key items. First, the company wants to raise its authorised share capital from Rs. 22 crore (2.20 crore equity shares) to Rs. 25 crore (2.50 crore equity shares of Rs. 10 each). Second, it plans a preferential issue of 13 lakh equity shares at Rs. 181.71 per share, raising about Rs. 23.62 crore from non-promoter allottees including Zenila Ventures LLP (6 lakh shares) and four other investors. Third, it proposes issuing up to 27,77,919 fully convertible warrants at Rs. 181.71 each, potentially raising Rs. 50.47 crore, with promoters and promoter group members subscribing to a significant portion (about 21.43 lakh warrants). Shareholders can vote remotely via NSDL e-voting from March 31 to April 2, 2026, with March 27, 2026 as the cut-off date.
The preferential allotments and warrants, if approved, will lead to dilution of existing shareholders but bring in approximately Rs. 74 crore (Rs. 23.62 crore from equity + Rs. 50.47 crore from warrants) to the company. Promoter participation through warrants signals confidence, while the issue price of Rs. 181.71 may act as a near-term price reference point for the stock.