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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' board approved raising up to Rs. 29 crore via preferential allotment on October 24, 2025. This includes 25 lakh equity shares at Rs. 100 each (Rs. 90 premium over Rs. 10 face value) to Qadosh Ventures Private Limited, a non-promoter public investor, for Rs. 25 crore. Additionally, 4 lakh fully convertible warrants at Rs. 100 each were approved for Nishant Garg, Managing Director and promoter, for Rs. 4 crore, with 25% upfront and 75% on conversion within 18 months. Post-issue, promoter holding will drop from 71.97% to 62.11% while public holding rises from 28.03% to 37.89%. Funds will be used for production capacity expansion, modernisation, and working capital. An EGM is scheduled for November 18, 2025 to seek shareholder approval.
The preferential issue dilutes existing shareholders by nearly 10% and introduces a new public investor, Qadosh Ventures. Promoter participation via warrants signals confidence in the business, while the Rs. 29 crore capital infusion supports growth plans. Watch for the EGM outcome and any further dilution if warrants are fully exercised.