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Maiden Forgings Ltd has received in-principle approval from BSE for issuing 25,00,000 equity shares of Rs. 10 face value at Rs. 100 per share, aggregating to about Rs. 25 crore, to non-promoter public category allottees. The issue was approved by shareholders at an Extraordinary General Meeting held on November 18, 2025. Allotment is pending receipt of consideration from the proposed allottees, after which the company will proceed with listing formalities. This is a continuation of earlier intimations dated October 24 and 27, 2025 regarding the preferential issue.
The Rs. 25 crore infusion at a significant premium to face value strengthens the company's capital base, but existing shareholders may face dilution of about 25 lakh additional shares going to new non-promoter investors once allotment is completed.