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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Maiden Forgings has called an EGM on November 18, 2025 (via video conferencing) to seek shareholder approval for three special business items. The first is an amendment to its Articles of Association to add a new 'Further issue of capital' clause, giving the company broader powers to raise funds. The second is a preferential allotment of up to 25 lakh equity shares to Qadosh Ventures Private Limited (a non-promoter, public category investor) at Rs. 100 per share, raising up to Rs. 25 crore, with a Rs. 90 premium over the Rs. 10 face value. The third is the issue of up to 4 lakh fully convertible warrants to Mr. Nishant Garg, the Managing Director and part of the promoter group, at Rs. 100 per warrant, convertible into equity within 18 months and potentially adding another Rs. 4 crore. Total potential fundraise is up to Rs. 29 crore, with the relevant pricing date set at October 17, 2025. E-voting will run from November 15 to November 17, 2025, with the cut-off date of November 11, 2025.
Existing public shareholders will face dilution once the 25 lakh shares and 4 lakh warrants (if converted) are allotted, but the promoter also putting in money via warrants signals some insider confidence. Investors should watch for what the company plans to use the Rs. 29 crore for, and whether the Qadosh Ventures allotment is at a fair price relative to market value.