Outcome of the Meeting of the Board of Directors held on 24.09.2025
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The Board of Directors of Mardia Samyoung Capillary Tubes approved raising the company's Authorised Share Capital from Rs. 29.45 crore to Rs. 80 crore. It also approved issuing 7.25 crore Fully Convertible Equity Warrants on a preferential basis to 17 specific investors at Rs. 13.50 per warrant, aggregating up to Rs. 97.875 crore. Each warrant is convertible into one equity share of Rs. 10 face value within 18 months, with 25% payable upfront and the balance 75% on conversion. Post full conversion, one allottee (Torextron Ventures) is shown to hold 63.03% of the expanded share base, indicating a likely change in control. The company manufactures brass and copper alloy rods, busbars, tubes, and profiles.
This is a major dilutive equity raise (nearly tripling the authorised capital) that could lead to a change in control, as one new investor may end up with over 63% if all warrants are exercised. Existing shareholders will see meaningful dilution, though the company gains fresh capital of up to Rs. 97.875 crore to fund growth.