Disclosure for Notice of EGM
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Mafia Trends Limited has called an Extra-Ordinary General Meeting on December 13, 2025 to seek shareholder approval for issuing 54,00,000 (54 lakh) fully convertible warrants on a preferential basis at Rs. 13.50 each, aiming to raise up to Rs. 7.29 crore. The warrants are being offered to 15 non-promoter allottees (mostly individuals and one LLP), none of whom currently hold shares in the company. The floor price per SEBI ICDR regulations works out to Rs. 13.06 per share, and the issue price of Rs. 13.50 is only marginally above this floor. Proceeds will be used for expansion, working capital, and general corporate purposes, with 25% payable upfront and the balance 75% due on conversion within 18 months.
This is a significant dilution event — assuming full conversion, total share count will rise by about 55% (from 44.33 lakh to 98.33 lakh shares), and promoter stake will be cut by more than half, dropping from 38.56% to 17.39%. The Rs. 7.29 crore raise is modest in size and priced just above the regulatory minimum, which existing shareholders may view unfavorably given the dilution involved.